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10-year yield hits lowest level November 10 amid geopolitical tensions

U.S. government debt prices rose on Tuesday as investors digested key economic data and mulled over geopolitical tensions.

The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was lower at around 2.14 percent, hitting its lowest level Nov. 10. The 30-year Treasury bond yield was also lower at 2.805 percent.

In the Middle East, a political rift between Qatar and several other Arab countries led to investors increasing their exposure to safer assets.

Gulf Arab states and Egypt have long resented Qatar's support for Islamists, especially the Egyptian-based Muslim Brotherhood, which they regard as a dangerous political enemy.

The coordinated move, with the Maldives and Libya's eastern-based government joining in later, created a dramatic rift among the Arab nations, many of which are in OPEC.

Brent crude traded at $50.17 a barrel on Tuesday, up 1.44 percent, while U.S. crude settled at $48.19 per barrel, up 1.67 percent.

Symbol
Yield
 
Change
%Change
US 3-MO
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US 1-YR
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US 2-YR
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US 5-YR
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US 10-YR
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US 30-YR
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In economic news, job openings hit a record high in April, according to the Job Openings and Labor Turnover Survey (JOLTS), which showed a total of 6.0 million openings.

—Reuters contributed to this report.