Key facts
- US Treasury yields retreated from 24-year highs in afternoon trading.
- A $39 billion auction of 10-year notes was met with strong investor demand.
- Falling oil prices contributed to the easing of the bond selloff.
- Earlier, yields on the 10-year and 30-year Treasury notes reached fresh 24-year highs.
US Treasuries saw yields retreat from 24-year highs in afternoon trading on Tuesday, as falling oil prices and a strong auction of $39 billion in 10-year notes helped to ease investor concerns. Earlier in the session, yields on the benchmark 10-year note and the 30-year bond had reached fresh 24-year highs, driven by a jump in oil prices above $100 which reignited worries about persistent inflation.