U.S. Treasury yields edged marginally upward on Tuesday, despite deepening concern around omicron lockdowns and a blow to President Joe Biden administration’s spending bill that dented some U.S. economic growth forecasts. The yield on the benchmark 10-year Treasury note inched higher by less than a basis point to 1.420% at around 4 a.m. ET. The yield on the 30-year Treasury bond moved slightly higher to 1.849%. Yields move inversely to prices and 1 basis point is equal to 0.01%. It comes as some economists lowered their growth forecasts for the United States after Democratic lawmaker Sen. Joe Manchin’s refusal to approve Biden’s $1.75 trillion spending plan, essentially killing it.
Source: CNBC – Bonds
