US bond yields lower on lack of hard data

Yields were up again on US Treasury bonds, following new data from the Eurozone that sent yields on the Bunds there higher and made it more likely that the European Central Bank will raise interest rates again soon. The price drops and gains in yields came on a lack of major economic news in the US. The market didn’t pay much attention to the Richmond Fed’s manufacturing and service index, which was up slightly but remained in negative territory.

Two-year Treasury bonds were up 3 basis points from Monday’s close, to 4.84 percent, while ten-year notes yielded 4.82 percent, higher than their yield of 4.79 percent late Monday. Thirty year paper was also 3 basis points higher than Monday’s late quote, to a yield of 4.97 percent.

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