WASHINGTON (dpa-AFX) - Treasuries showed a notable advance during trading on Tuesday, regaining ground after trending lower over the past several sessions.
Bond prices gave back after an early surge but moved back to the upside as the day progressed. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, has fallen 4.6 basis points to 5.265 percent.
The rebound by treasuries may partly have reflected bargain hunting after yields jumped to multi-decade highs during Monday's session.
Treasuries also initially benefitted from an extended slump by the price of crude oil but remained positive even as crude oil prices regained ground.
Traders are also looking ahead to the release of the minutes of the Federal Reserve's latest monetary policy meeting on Wednesday.
The minutes may shed additional light on Fed officials' thinking ahead of the central bank's next interest rate decision later this month.
CME Group's FedWatch Tool is currently indicating an 80.6 percent chance the Fed will leave rates unchanged and just a 19.4 percent chance of another quarter point rate hike.
In U.S. economic news, a report released by the Commerce Department showed the U.S. trade deficit widened by more than expected in the month of August.
The Commerce Department said the trade deficit increased to $105.6 billion in August from a revised $92.8 billion in July.
Economists had expected the trade deficit to grow to $99.0 billion from the $88.6 billion originally reported for the previous month.
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