Traders work on the floor of the New York Stock Exchange during afternoon trading on October 03, 2024 in New York City.
U.S. Treasury yields were slightly lower early Tuesday, reversing course after the 10-year hit it highest level in more than two months.
The 10-year Treasury yield rose nearly 3 basis points to 4.053% and hovered near its highest level since Aug.1. The 2-year Treasury slipped a basis point to 3.992%.
Yields move inversely to prices. One basis point equals 0.01%.
The 10-year jumped above 4% on Monday amid stronger labor market readings and despite the start of a Federal Reserve rate-cutting campaign last month.
The 10-year yield was up more than 4 basis points to 4.024%, its highest since early August and a big turnaround from its 2024 low of around 3.58%, reached a little more than a month ago. The yield on the 2-year Treasury was up nearly 6 basis points to 3.989%.
On Tuesday, investors are looking ahead for more indication on the path for interest rates, with fresh comments due from policymaker Adriana Kugler.
— CNBC's John Melloy and Lisa Kailai Han contributed to this report.
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