Treasuries-US yields edge lower after data as crude prices slip

The yield on the benchmark U.S. 10-year Treasury note shed 0.2 basis point to 4.794% and was on track to snap its longest streak of daily gains since March. The yield hit an earlier high of 4.818%, its highest since November 1, 2023.

Data from the Commerce Department showed factory orders rose 0.9% in July, above the 0.6% estimate, after a revised 0.2% drop in June, led by a bounce in demand for aircraft.

The yield on the 30-year bond dipped 0.1 basis point to 5.266% after hitting a two-week high of 5.296%.

Federal Reserve Bank of New York President John Williams said rising long-term bond yields aren’t driven by inflation fears but are instead a reflection of a solid economy, in comments that also said he was still collecting information to drive his next monetary policy decision.