Treasury yields rise for a second day during Christmas week
Treasury yields retreated Tuesday in a holiday-shortened trading session ahead of the Christmas break.
Astrong
Treasury yields rose again on Tuesday in a holiday-shortened trading session ahead of the Christmas break.
The yield on the 10-year Treasury traded 3 basis points higher at 4.613%, hitting its highest level since May 30. The benchmark rate climbed 6 basis points on Monday. The 2-year Treasury was up by just 1 basis point at 4.351%, after rising 3 basis points in the previous session.
One basis point is equal to 0.01%. Yields move inversely to prices.
Tuesday will likely play out as a muted day for U.S. financial markets, given the early close at 1 p.m. ET for stock trading. The bond market stops activity at 2 p.m.
Markets will remain closed Wednesday for the Christmas holiday.
Economic data releases out Tuesday include the Philadelphia Fed non-manufacturing survey and Richmond Fed survey for December.
