2-year Treasury yield falls after consumer confidence miss

The 2-year U.S. Treasury yield decreased slightly on Tuesday due to a weaker-than-expected consumer confidence report. The 10-year Treasury yield, on the other hand, increased. Yields and prices move in opposite directions, and one basis point is equivalent to 0.01%. Consumer confidence fell to its lowest level in over three years for September, according to the Conference Board. The recent interest rate cut by the Federal Reserve has raised concerns among market participants about the state of the economy. Federal Reserve Governor Michelle Bowman expressed her dissent on the rate cut, emphasizing the importance of achieving stable inflation for a strong economy in the long term.