Treasury yields tick higher as U.S.-Iran standoff persists and investors await April PMI

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Treasury yields ticked higher on Thursday as investors await updates on the resumption of U.S.-Iran peace talks and the latest Purchasing Managers’ Index print for April, due later in the day.

The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — was up more than 2 basis points at 4.214%.

The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was up more than 1 basis point at 3.8126%. The longer-dated 30-year Treasury bond yield was up more than 2 basis points at 4.9255%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.