U.S. Treasury Yields Edge Higher as Budget, Oil Price Fears Prevail
Dow Jones
Aug 21
0548 GMT - U.S. Treasury yields are slightly higher in Asian trade as investors remain cautious despite the Treasury's announcement Wednesday of an increase in securities buybacks. "Concerns about large budget deficits and extensive borrowing from tech companies seem to be back in focus," SEB's Pia Fromlet says in a note. In addition, the lack of a solution in the Middle East continues to raise oil prices, the economist says. Brent oil is back above $90 per barrel, last trading at $93.46, down 0.3% on the day. The 10-year U.S. Treasury yield rises 1 basis point to 4.707%, while the 30-year yield is up 1.8 basis points at 5.254%, according to Tradeweb data.
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