US Treasury prices lower as oil rises

U.S. sovereign bond prices moved lower Tuesday as investors opted for riskier assets on the back of rising oil prices.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, moved higher to 1.78 percent, while the yield on the 30-year Treasury bond was higher at 2.5907 percent.

Symbol
Yield
 
Change
%Change
US 3-MO
---
US 1-YR
---
US 2-YR
---
US 5-YR
---
US 10-YR
---
US 30-YR
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Oil prices staged a turnaround Tuesday, as attention shifted to a Kuwaiti oil worker strike that was putting pressure on global supply, with the country's production drawn down from around 2.8 million barrels per day to 1.5 million.

That comes after a lower close for both WTI and Brent in the previous session, OPEC and non-OPEC producers failed to secure a supply freeze at a meeting in Doha.

U.S. benchmark West Texas Intermediate (WTI) futures snapped a four-day losing streak, settling at $41.08, up 3 percent.

March housing start data showed an 8.8 percent decline, while building permits fell 7.7 percent. Building permit figures were forecast to show a 1.7 percent rise to 1.2 million.