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.
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