The 10-year Treasury yield decreases but remains above 4%.
The 10-year Treasury yield decreased slightly on Wednesday, following a rise to its highest level in over two months.
On Monday, the 10-year Treasury yield increased to 4%, which was due to the stronger labor market readings from last week and the Federal Reserve's rate cut in the previous month.
The yield slipped over 2 basis points to 3.952% Wednesday morning.
Yields move inversely to prices. One basis point equals 0.01%.
The rebound in rates can be attributed to a resetting of rate-cutting expectations, rising oil prices due to geopolitical tensions in the Middle East, and a stimulus plan in China raising concerns about inflationary pressures, which may cause some investors to leave bonds and increase yields.
The U.S. Federal Reserve will decide on rates on Nov. 7, two days after the U.S. election. The October jobs report will be released the week before, on Nov. 1. September's inflation reading is due on Thursday.
This report was contributed to by Lisa Kailai Han, John Melloy, and Karen Gilchrist of CNBC.
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