Treasuries showed a strong move to the upside in early trading on Wednesday but gave back ground over the course of the session.
Bond prices pulled back well off their early highs and briefly dipped into negative territory before closing roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, crept up by less than a basis point to 3.976 percent.
The pullback by treasuries partly reflected a negative reaction to the results of the Treasury Department's auction of $32 billion worth of ten-year notes, which attracted below average demand.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.