Treasury yields as concerns about economic growth continue

US government interest rates ebbed on Wednesday morning, amid persistent concerns about a global economic downturn.

The yield on the benchmark 10-year government bond moved 1 basis point lower to 2.7608% at. 03:25 ET. The yield on the 30-year government bond fell 1 basis point to 2.8528%. The dividend moves in reverse to prices, and 1 basis point is equal to 0.01%.

Government interest rates have fallen this week along with declines in the stock market. An increase in Covid-19 cases in China, concerns over developments in the Russia-Ukraine war and tighter central bank policies to combat rising inflation have all weighed on investors’ sentiment.

Tensions are rising between Western allies and Russia after Foreign Minister Sergey Lavrov said on Monday that the threat of a nuclear war is very significant and that the risks should not be underestimated.

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U.S. Secretary of Defense Lloyd Austin responded to those comments Tuesday, calling the nuclear war rhetoric “very dangerous and inappropriate.”

With regard to data releases, which will be released on Wednesday, March’s pending housing sales figures are scheduled for release at. 10:00 ET.

Auctions are scheduled to be held for $ 30 billion of 119-day bills and $ 49 billion of 5-year notes.

CNBC.com staff contributed to this market report.

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