Treasury yields move lower as inflation concerns persist

U.S. Treasury yields dipped slightly early Tuesday after marching to fresh highs during the previous session amid persistent concerns over inflationary pressures. The 10-year U.S. Treasury note yield — the key benchmark for mortgage borrowing, auto loans and credit card debt — was down about 1 basis point at 5.2278%. The 30-year Treasury bond yield, which typically reacts to geopolitical developments, was also lower by 1 basis point at 5.466%. The 2-year Treasury note yield, which tends to move in line with short-term Federal Reserve interest rate decisions, was flat at 4.9243%. One basis point is equal to 0.01%, and yields and prices move in opposite directions.