Update: US Treasury Yields Head Lower Amid Mixed Job Openings, Softening Demand at Government Auctions

03:51 PM EDT, 09/29/2026 (MT Newswires) -- (Updated with Treasury yields, auction details, SPR sales) Most US Treasury yields fell as August job openings slumped to a five-month low, consumer confidence unexpectedly sank, and demand for government bills declined. Maturities below seven years slid, with the 2-year yield retreating 3.3 basis points to 4.891% after touching a new 52-week high of 4.96% earlier in the session. The 30-year was up 3.5 basis points to 5.595% in the final leg on Tuesday, after hitting an intraday high of 5.621%, its strongest level since 2002. The 10-year traded 1.5 basis points higher at 5.257%, after hitting an intraday high of 5.293%, the highest in 19 years. Job openings fell to 7.079 million last month, the lowest since March and down from 7.335 million openings reported in July, according to the Bureau of Labor Statistics. The August print missed the 7.228 million openings expected in a Bloomberg-compiled survey. However, hiring rose to 5.192 million from 5.146 million in July, lifting the hiring rate to 3.3% from 3.2%. Separations fell to 5.070 million from 5.128 million. Quits and layoffs both declined. The Conference Board's consumer confidence measure fell to 81.9 in September from 88.6 in August, versus the 89.0 forecast in a Bloomberg-compiled poll. The US government disbursed $54 billion of 364-day bills at a high rate of 4.400%, up from 3.980% at the sale about a month ago. Demand weakened as bid-to-cover declined to 3.07 from 3.61. The high rate was below the 3.390% reported at the first January auction, when the same maturity securities sold with a 3.42 bid-to-cover. Indirect bidders for 364-day bills, a proxy for foreign demand, especially central banks, took almost 71% of competitive awards, below the roughly 75% reported on Sept. 1. The Treasury sold $85 billion of 42-day bills on Tuesday at a high rate of 3.970%, up from 3.870% reported a week ago. Demand softened as bid-to-cover slumped to 2.82 from 3.03. Tuesday's high rate compares with 3.560% reported at the beginning of the year, when the same tenor had a 2.89 bid-to-cover. Indirect bidders accounted for more than 67% of competitive awards for the 42-day bills, slightly above 66% on Sept. 22. Globally, government bond yields rose across most maturities in Japan. Rates were lower across almost the entire curve in the United Kingdom, Germany, France and Australia. The US Department of Energy plans to offer up to 40 million barrels of crude oil from the Strategic Petroleum Reserve to stabilize oil markets, continuing its execution of the 172-million-barrel release previously announced by President Donald Trump in coordination with the overall 400-million-barrel commitment from member nations of the International Energy Agency, it said Tuesday. The front-month US West Texas Intermediate crude oil contract dropped 3.4% to $89.47 per barrel, and the global benchmark North Sea Brent retreated by 2.3% to $102.88 per barrel.