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US Treasury yields down with Fed, data in focus

United States Treasury yields declined on Tuesday after job openings in the country dropped to a lower-than-expected level, according to the latest data.

The reading may have led market participants to believe that the Federal Reserve will hold the federal funds rate at its current level for some time before possibly opting for rate cuts later this year as the effectiveness of its measures became evident in the new jobs report.

The return on the 10-year Treasury note was down 4.9 basis points to 3.383% at 10:32 am ET and the yield on the two-year note, which can indicate interest rate expectations, dropped 12.8 basis points to 3.852% a minute later. The return on the 30-year bond decreased by 3.3 basis points to 3.613% at 10:33 am ET.

Baha Breaking News (BBN) / MS