FXStreet (Mumbai) – The yields on the short duration and long duration treasury notes in the US extended gains on Tuesday on optimism that economic growth is rebounding after a soft first quarter.
The yield on the benchmark 10-year yield is up 4 basis points to trade at 2.231%. At the short-end, the two-year yield, which mimics short-term interest rate expectations, rose 1.2 basis points to 0.661%.
The treasury yields had moved higher in the previous session after the Institute for Supply Management said its index of national factory activity rose to 52.8 in May, from April’s 51.5. Ahead in the day, the treasury prices may extend losses, pushing yields higher if the US factory orders for April print higher than the consensus estimate of 0.0%.
(Market News Provided by FXstreet)