10-Year Yield Plunges, Regains Ground

The long-term rate-indicative 10-year Treasury yield initially plummeted Tuesday morning before the Federal Reserve's emergency rate cut (see item above), but after the cut the benchmark yield regained some ground. The 10-year yield fell to a point near 3.43% before the cut. Afterwards, it oscillated somewhat but generally trended upward. Just before noon, it stood near 3.57%. The Dow Jones industrial average also plunged initially Tuesday morning, falling more than 450 points, but rebounded later in the day.