10-Year Yield Heads Down

The rate-indicative 10-year Treasury yield broke out of its trading range and headed lower Tuesday morning following the release of data showing a decline in consumer confidence.The fluctuating 10-year yield, which in recent weeks has risen as high as 4.3% but rarely fallen much below 4.2%, had fallen to 4.1% as of noon Tuesday. The yield began falling after the release of a Conference Board report showing that consumer confidence was "softer than the consensus forecast," according to RBS Greenwich Capital Markets.