Traders work on the floor of the New York Stock Exchange during morning trading on September 16, 2026 in New York City.
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U.S. Treasury yields were relatively unchanged Tuesday as investors awaited new clues about the state of the U.S. economy.
Benchmark yield 10 year treasury Note fell less than 1 basis point to 4.959%. yield 2 year memo decreased 1 basis point to 4.743%. 30 year treasury The yield remained unchanged at 5.296%.
One basis point equals 0.01%, and yields and prices move in opposite directions.
On Wednesday, Michael S. Barr, a member of the central bank’s board of directors, will speak at the Housing Affordability Summit in Chicago.
The comments are expected to come after Chicago Fed President Austan Goolsby told an audience in London that he is “sensitive to rising inflation, especially in the services sector, and to evidence that AI data center construction is spilling out of its own lane and increasing aggregate output by more than the economy can absorb.”
“There is no clarity on how the Fed would need to respond if demand overheats,” he said.
Goolsby also noted that forecasters have been pushing back the date by which inflation is expected to peak and begin to fall by more than a year.
“It was originally scheduled to happen in the fourth quarter of 2025, then the first quarter of 2026, then the second quarter, then the third quarter, then the fourth quarter, and now somewhere in 2027,” he said. “That’s not a pleasant pattern.”
Oil prices closed lower after President Donald Trump said U.S. officials had a “very good” three-hour meeting with an Iranian delegation. The president told the United Nations earlier Tuesday that Iran faces a “big decision” on whether to seek a deal or “annihilate the Islamic Republic.”
Stocks fell early on reports that Iran has proposed reopening the Strait of Hormuz within seven days and that Saudi Arabia is aiming to reopen the East-West pipeline as soon as this week.
This came amid increasing pressure from the US government on Tehran. US Treasury Secretary Scott Bessent said all Iranian airlines would be closed starting Wednesday.
Brent crude oil futures (for delivery in November), an international benchmark, fell 1.09% to end at $99.25 per barrel, while US West Texas Intermediate crude oil futures fell 1.24% to $94.59 per barrel.
