U.S. Treasury yields dropped significantly during the U.S. stock market's early trading session, with the two-year real yield soaring by 31 basis points.

The yield on the 2-year U.S. Treasury note fell by 1.05 basis points to 3.7750%, having once plunged from near 3.8% to below 3.74%; the yield on the 30-year U.S. Treasury note rose by 1.42 basis points to 4.8968%. The spread between the 2-year and 10-year U.S. Treasury yields widened by 1.073 basis points to +51.016 basis points. The yield on the 10-year Treasury Inflation-Protected Securities (TIPS) fell by 2.21 basis points to 1.9260%; the yield on the 2-year TIPS rose by 31.06 basis points to 0.8889%. Bloomberg data shows it opened with a gap above 0.85% and then continued to fluctuate narrowly at a high level; the yield on the 30-year TIPS was unchanged at 2.6697%.