{"id":65455,"date":"2020-04-21T14:46:34","date_gmt":"2020-04-21T14:46:34","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=65455"},"modified":"2025-02-03T08:00:38","modified_gmt":"2025-02-03T08:00:38","slug":"treasury-yields-move-lower-after-historic-oil-price-plunge","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/treasury-yields-move-lower-after-historic-oil-price-plunge.html","title":{"rendered":"Treasury yields move lower after historic oil price plunge"},"content":{"rendered":"\n
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\nU.S. government debt prices were higher Tuesday morning, after a historic oil price plunge stunned market participants in the previous session.<\/span><\/div>\n
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\nAt 2:45 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 0.6130%, while the yield on the 30-year Treasury bond was also lower at around 1.2152%.<\/span><\/div>\n
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\nIt comes after U.S. oil prices tumbled below zero for the first time on record, with crude storage facilities filling rapidly and as the coronavirus crisis ravages demand.<\/span><\/div>\n
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\nWest Texas Intermediate crude futures for May settled at negative $37.63 a barrel on Monday, closing in negative territory for the first time in history. The contract, which is set to expire on Tuesday, last traded at $1.36 a barrel.<\/span><\/div>\n
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\nThe June contract for WTI,  which is more actively traded, stood at $21.39 a barrel, up almost 5%. Meanwhile, international benchmark Brent crude traded at $24.86 a barrel, down 2.74% on Tuesday.<\/span><\/div>\n
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\nOn the data front,  Philadelphia Fed non-manufacturing figures for April will be released at 8:30 a.m. ET, with existing home sales for March set to follow at 10 a.m. ET.<\/span><\/div>\n
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\nThe U.S. Treasury is set to auction $28 billion in 52-week bills and $25 billion in 119-day bills on Tuesday.<\/span><\/div>\n
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\nFor More Information<\/span><\/b><\/div>\n
\nClick Here<\/span><\/a><\/b><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n
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