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Treasury yields move lower ahead of economic data, auctions

Treasury yields move lower ahead of economic data, auctions

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U.S. government debt prices were higher Tuesday morning, as investors monitor the latest batch of economic data reports and Treasury auctions.

U.S. Markets Overview: Treasurys chart

At around 03:45 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.4139, while the yield on the 30-year Treasury bond was also lower at around 2.8338.

Market participants are likely to closely monitor speeches from policymakers at the U.S. central bank. Chicago Fed President Charles Evans and Boston Fed President Eric Rosengren are both set to comment on the world’s largest economy at separate events on Tuesday.

The speeches come after Fed Chairman Jerome Powell said Monday that rising levels of corporate debt did not pose an immediate threat to the financial system.

The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.

On the data front, the Philadelphia Fed non-manufacturing survey for May is set to come out at around 8:30 a.m. ET, followed by existing home sales figures for April at around 10:00 a.m. ET.

Meanwhile, the U.S. Treasury is set to auction $26 billion in 52-week bills on Tuesday.

In commodity markets, oil prices were slightly higher as energy market participants monitored escalating U.S.-Iran tensions.

International benchmark Brent crude traded at around $72.10, up around 0.2%, while U.S. West Texas Intermediate (WTI) stood at $63.42, more than 0.5% higher.


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