U.S. Treasury yields rose slightly on Tuesday as voting began in the U.S. midterm elections and investors analyzed a busy week of economic data and renewed tensions in the Middle East that pushed up oil prices.
yield 10 year US bond Interest rates, a key benchmark for mortgages, auto loans and credit card debt, rose more than 2 basis points to 4.9167%.
long term yield 30 year US bond It tends to move significantly due to geopolitical developments, increasing by 1 basis point to 5.2879%.
yield of 2 year Treasury billwhich more closely follows the Federal Reserve’s short-term interest rate decisions, rose more than 1 basis point to 4.5956%.
One basis point is equal to 0.01%, or 1/100th of 1%, and yield and price are inversely proportional to each other.
The move follows a mixed day for the U.S. Treasury market on Monday, with the benchmark 10-year Treasury yield falling 2 basis points and the short-term 2-year Treasury yield rising more than 1 basis point.
As Americans vote in the midterm elections on Tuesday, investors are focused on how the results will shape Congress and move markets.
The September JOLTS jobs report, to be released by the Bureau of Labor Statistics at a later date, is expected to show 7.1 million job openings, up slightly from August’s 7.079 million.
It’s a busy week of domestic economic data, with the ISM Services PMI and ADP employment figures scheduled to be released on Wednesday, and non-farm payrolls and unemployment rates for October to be released on Friday.
Meanwhile, oil prices rose following the US attack on Iran’s Qeshm Island, raising concerns that the Middle East conflict would escalate again.
us West Texas Intermediate Futures Oil for December delivery rose 1.57% to $97.97 per barrel. brent crude oilThe global price benchmark rose 1.66% to $106.48.
