U.S. Treasury yields fell on Tuesday as trading resumed after Columbus Day, with investors weighing the potential geopolitical and economic impact of the Israel-Hamas war.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Concerns about the implications of the Israel-Hamas conflict continued, with investors considering whether it may affect markets and the global economy.
Palestinian militant group Hamas launched an attack against Israel on Saturday. Over 1,500 deaths have been recorded so far, with thousands more injured, according to the latest figures.
On Tuesday, Israel’s military said it had secured the Israel-Gaza border as it continued airstrikes on the Hamas-governed Gaza Strip.
Elsewhere, Federal Reserve officials on Monday gave hints about the outlook for interest rates.
Fed Vice Chair Philip Jefferson said the central bank needs to be careful with how it proceeds following the recent climbs of Treasury yields, while Dallas Fed President Lorie Logan suggested surging yields may mean there is less of a need for further rate hikes. Further comments from Fed officials are expected on Tuesday.