WALL STREET

too high.

After charging higher through the start of this year when hopes dimmed for cuts to interest rates by the Federal Reserve, Treasury yields have been regressing this month to offer some relief for the stock market.

The yield on the 10-year Treasury fell to 4.45% from 4.49% late Monday. The two-year yield, which moves more closely with expectations for the Fed, slipped to 4.82% from 4.83%.

While long-term yields have been declining over the last week, strategists at Wells Fargo Investment Institute still expect them to remain relatively high for a while. That’s in part because expectations are broadly for inflation to remain higher than hoped. Luis Alvarado, global fixed income strategist, believes the 10-year yield will likely remain near its recent range.

Elsewhere on Wall Street, Crocs jumped 7.8% after reporting better profit and revenue than expected. It benefited from strong growth internationally.

International Flavors & Fragrances, which makes ingredients used in food and perfume, gained 6.4% after reporting better profit and revenue than expected. It also said it expects its revenue for the full year to come in at the higher end of its forecasted range.

Lucid Group tumbled 14%.1 after the electric-vehicle maker reported a worse loss for the latest quarter than analysts expected.

Builders Firstsource fell 19% despite topping forecasts for profit and revenue. The supplier of building products said a weakening multi-family market and higher mortgage rates were creating challenges, and its forecast for how much cash it will generate this year came in below some analysts’ expectations.

In stock markets abroad, indexes jumped across much of Europe and Asia. Stocks rose 2.2% in Seoul, 1.6% in Tokyo and 1.2% in London. Australia’s S&P/ASX 200 advanced 1.4% after the central bank decided to keep interest rates unchanged.