The 10-year Treasury yield rose 5.4 basis points to 4.948% as investors assessed strong economic data and awaited midterm election results. The 30-year yield gained 5.2 basis points to 5.321%.
Longer-dated US Treasury yields rose on Tuesday as investors watched economic data, awaited midterm election results and monitored Middle East diplomacy. Yields briefly pared gains after oil futures fell, then rose again following stronger-than-expected labor market data.
US job openings increased sharply in September while layoffs fell. Sage Advisory co-chief investment officer Thomas Urano said job openings, factory orders and durable goods pointed to resilient growth.
Investors were in a wait-and-see mode ahead of results that would determine control of Congress. The two-year yield rose 3.1 basis points to 4.614%, while the yield-curve gap between two- and 10-year notes was positive 33.2 basis points. Meta Platforms filed for a five-part senior notes offering, and investors reportedly placed as much as $58 billion of orders.
