U.S. YIELDS RETREAT FROM 24-YEAR HIGHS

Treasury yields pulled back as oil fell below $100 and Scott Bessent pledged that stronger growth and spending restraint would begin improving the U.S. debt trajectory.

The 10-year yield fell to 5.27% and the 30-year to 5.63%, easing from levels last seen in 2002.

Investors remain cautious, however, with the U.S. deficit near 6% of GDP and markets still pricing substantial Fed tightening.
(@WalterBloomberg)