The 10-year U.S. Treasury yield struggled for direction on Wednesday morning, as investors were torn between a strong earnings season and continued economic concerns.
The yield on the benchmark 10-year Treasury note stood at 1.6168% at 3:45 a.m. ET. The yield on the 30-year Treasury bond fell 1 basis point to 2.035%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
TREASURYS
TICKER COMPANY YIELD CHANGE %CHANGE
US3M U.S. 3 Month Treasury 0.066 0.01 0
US1Y U.S. 1 Year Treasury 0.124 0.002 0
US2Y U.S. 2 Year Treasury 0.497 0.013 0
US5Y U.S. 5 Year Treasury 1.19 0.009 0
US10Y U.S. 10 Year Treasury 1.599 -0.019 0
US30Y U.S. 30 Year Treasury 2.021 -0.03 0
Companies continued to report strong earnings in the U.S., which saw the S&P 500 notch its 70th intraday high of 2021 and 57th record close of the year.
However, worries around rising inflation, supply chain issues and a slowdown in the economy, continue to weigh on investors’ minds.
On Wednesday, durable goods orders data for September is due out at 8:30 a.m. ET.
Auctions are scheduled to be held on Wednesday for $40 billion of 119-day bills and $61 billion of seven-year notes.
