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Treasury Yields Track Oil Moves, But Curve Flattening Signals Inflation Concerns
U.S. Treasury bond yields slipped lower again Tuesday, matching moves in the oil market, even as hawkish commentary from Federal Reserve officials keeps investors primed for an October rate hike.
Benchmark 10-year Treasury note yields were last marked at 4.928% in early Tuesday dealing, down notably from the highs of last week that saw the paper reach 5.03%, a level last seen in 2007.
They have been largely mirroring moves in the oil market of late, rising on signs of elevated inflation risk and falling amid reports of a detente between the U.S. and Iran.
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