U.S. Treasury Yields Ease From 24-Year Highs Ahead of Fed Minutes

U.S. Treasury yields were broadly flat Tuesday morning after the 10-year and 30-year yields reached 24-year highs in the prior session, as investors awaited the Federal Reserve’s latest account of its rate discussions.

The 10-year yield was 5.302%, below its prior close, after reaching its highest level since April 2002 on Monday. The 30-year yield rose less than one basis point to 5.665%, after reaching a level last seen in May 2002. The two-year yield fell one basis point to 4.818%.

Yields climbed Monday after September data showed cooling growth in the services sector. The services purchasing managers’ index rose to 54.9, in line with expectations but just below August’s reading. The sector’s prices index increased 1.4 points to 74.

Investors are due to receive minutes from the Federal Open Market Committee’s September meeting on Oct. 7. They will look for clues about officials’ views on future monetary policy.