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Selling Pressure in Bond Market Rises as Geopolitical Worries Ease

Selling Pressure in Bond Market Rises as Geopolitical Worries Ease

The U.S. Treasury market felt the selling pressure on Tuesday, driving yields up, with the benchmark note seen returning to levels hit at the end of August, as geopolitical tensions somewhat eased.

Yield on the 10-year Treasury note yield rose by 4.5 basis points to 2.171 percent, piling on its weeklong gains and bringing it higher by more than 11 basis points. Meanwhile, the 30-year note Treasury yield advanced 3.5 basis points to 2.774 percent. The two-year note Treasury yield rose by 1.6 basis points to 1.335 percent.

On Monday, the bond market saw the most intense selling in months, bolstering yields as demand for safe-haven assets eased after Hurricane Irma devastated Florida with less impact than anticipated and North Korea refrained from launching another missile test over the weekend. The yields on the 10-year and 30-year Treasury notes saw their biggest yield increase since the end of July while the yield on the two-year note saw its largest jump since April 24, WSJ data showed.

Bond investors will wait for the inflation data due to be released later this week. The price producer index is slated to be released on Wednesday while the consumer-price index is expected on Thursday.

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