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NEW YORK, April 11 (Reuters) - The U.S. bond market's gauges on inflation expectations on Tuesday scaled back further from their initial drop as oil prices turned positive following a Wall Street Journal article citing sources that Saudi Arabia wants OPEC to extend its current output cuts.
The 10-year inflation breakeven rate, or the yield difference between 10-year Treasury Inflation Protected Securities and regular 10-year Treasury notes, was last at 1.91 percent, down 2 basis points from Monday. It touched 1.90 percent earlier Tuesday, which was the lowest since Dec. 20, Tradeweb and Reuters data showed. (Reporting by Richard Leong)