U.S. Treasury yields extend gains as bond markets continue to flash recession warning

U.S. Treasury yields were higher on Thursday morning, extending gains even as the closely watched 2-year/10-year yield curve remained inverted — a key recession signal. The yield on the benchmark 10-year Treasury note rose over 6 basis points to 2.979%, while the yield on the 30-year Treasury bond was up 4 basis points to 3.165%. Yields move inversely to prices, and a basis point is equal to 0.01%. Market pros track the spread between longer-duration Treasury yields and shorter-duration yields, with the former