*U.S. Treasury yields eased early Tuesday, taking a breather following recent rip-roaring moves to multiyear highs due to concerns around inflation and central bank monetary policy.
The 10-year U.S. Treasury note yield — the key benchmark for mortgage borrowing, auto loans and credit card debt — was fell nearly 2 basis points to 5.226%. The 30-year Treasury bond yield, which typically reacts to geopolitical developments, was lower by 1 basis point at 5.551%.
The 2-year Treasury note yield, which tends to move in line with short-term Federal Reserve interest rate decisions, was little changed at 4.922%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
On Monday, both the benchmark 10-year note yield and the longer-dated 3-year Treasury bond yield jumped by 5 basis points. The former traded around the levels not seen since 2007, while the latter hovered near 2004 highs.