Treasury Yields Drop to Lowest Level in Two Months Before Powell Speaks

Treasuries fell on Tuesday after a report on US job openings failed to provide justification for a Federal Reserve interest-rate cut as soon as next month.

Bonds slipped across maturities with yields trading close to session highs late in New York. Shorter-dated tenors, those more sensitive to Fed policy shifts, rose the most. The two-year note’s yield was up about six basis points to 3.78% — rebounding from below 3.70% earlier in the session — following JOLTS data that showed a steep increase in openings, a sign of strength in the labor market.