10-year Treasury yield edges slightly lower ahead of data, auctions


The 10-year U.S. Treasury yield struggled for direction on Wednesday morning, as investors were torn between a strong earnings season and continued economic concerns.

The yield on the benchmark 10-year Treasury note stood at 1.6168% at 3:45 a.m. ET. The yield on the 30-year Treasury bond fell 1 basis point to 2.035%. Yields move inversely to prices and 1 basis point is equal to 0.01%.

Companies continued to report strong earnings in the U.S., which saw the S&P 500 notch its 70th intraday high of 2021 and 57th record close of the year.

However, worries around rising inflation, supply chain issues and a slowdown in the economy, continue to weigh on investors’ minds.

On Wednesday, durable goods orders data for September is due out at 8:30 a.m. ET.

Auctions are scheduled to be held on Wednesday for $40 billion of 119-day bills and $61 billion of seven-year notes.

CNBC’s Pippa Stevens contributed to this market report.

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