US Treasuries Slide Back After Recent Rally Pushed Yields Lower

what happened

According to TradingView, citing RTTNews, US Treasuries fell notably on Tuesday after several sessions of gains. The yield on the benchmark 10-year note, which moves inversely to price, rose 5.8 basis points to 4.952%. The decline likely reflected profit taking after the recent rally, which had pushed the 10-year yield to its lowest level in more than a month. Traders also weighed the U.S. midterm elections, which will decide control of the House and Senate. Polls have raised the prospect of a 'blue wave,' though it is unclear whether Democrats will win both chambers.

Economic data was also firm. The Labor Department reported job openings rose to 7.523 million in September, up from a revised 7.190 million in August, beating the 7.160 million economists had expected. The Commerce Department said factory orders jumped 1.8% in September after a revised 0.3% gain in August, compared with the 1.2% forecast.

why it matters

Treasury prices are being pulled by several forces at once: profit taking, firm U.S. data and uncertainty around the midterms. Stronger job openings and factory orders keep attention on the economic outlook, while the election result could shape expectations for fiscal policy. Yields may stay volatile until the outcome is clearer.

market impact

US Treasuries: higher yields mean lower bond prices after the profit-taking pullback

• ▼US Treasuries pressure down — yields rose as traders took profits after the rally

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