10-year Treasury yields drop to 2.66 percent

Treasurys higher for second day in a row

NEW YORK — Investors are buying up Treasurys for a second straight day.

The 10-year Treasury note was up 71.8 cents on Tuesday to 99.625. The higher price lowered the yield to 2.66 percent in late afternoon trading.

The yield on the benchmark 10-year note briefly hit 2.83 percent Monday morning, the highest rate for the note since early August. It closed the day at 2.75 percent. Its yield is a common benchmark for corporate and mortgage loans.

In other trading on Tuesday afternoon, the yield on the 2-year note slid to 0.50 percent from 0.54 percent the previous day. The yield on the 30-year long bond also fell, dropping to 3.78 percent from 3.85 percent late Monday.