Treasury Yields Veer Toward 2019 Lows
- Bad news for May’s Brexit strategy, CPI pushed yields to 2.59%
- A strong auction of notes also stirred markets Tuesday
Photographer: Andrew Harrer/Bloomberg
This article is for subscribers only.
A trifecta of events drove a Treasuries rally Tuesday, pushing the 10-year yield below the range it’s held for almost all of 2019.
Treasuries were influenced by more setbacks for U.K. Prime Minister Theresa May’s Brexit strategy and a weaker-than-anticipated U.S. consumer price index. A strong auction of 10-year notes at a yield of 2.615 percent, below what had been the session’s low point, also spurred the market.