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Treasury yields fall as fears of recession dampen risk sentiment


U.S. Treasury yields fell on Tuesday as worries about a possible economic recession continued to send investors seeking safety.

At around 5:30 a.m. ET, the yield on the benchmark 10-year Treasury was down to 2.8821%, while the yield on the 30-year Treasury slipped to 3.1106%. Yields move inversely to prices.

Markets reopened Tuesday after the July 4 holiday after major averages ended another losing week, worsening one of Wall Street’s worst first halves in decades.

In this shortened week, investors are eagerly awaiting the release of data from the June jobs report on Friday. Job growth likely slowed in June, with 250,000 more nonfarm payrolls, down from 390,000 in May, according to Dow Jones estimates. Economists surveyed expect the jobless rate to stay at 3.6%.

Minutes from the Federal Reserve’s latest monetary policy meeting will also come into focus on Wednesday as investors seek to gauge the central bank’s interest rate hike path.

Tuesday’s data includes May factory orders, while auctions will be held for $45 billion of 13-week Treasury bills and $42 billion of 26-week Treasury bills.

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