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Treasury yields fall ahead of economic data

U.S. Treasury yields fell early on Tuesday, with a series of economic data releases due out later in the morning.

The yield on the benchmark 10-year Treasury note gave up 1 basis point, falling to 1.6094% at 3:50 a.m. ET. The yield on the 30-year Treasury bond fell by more than 2 basis points to 1.9790%. Yields move inversely to prices and 1 basis point is equal to 0.01%.

It comes after the 10-year yield hit 1.62% on Monday, amid mounting concerns about inflation.

On Tuesday, October’s retail sales data are due out at 8:30 a.m. ET. Economists surveyed by Dow Jones are expecting sales to have jumped by 1.5% last month, compared with 0.7% in September.

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Industrial production data for October are then expected to be released at 9:15 a.m. ET.

The November National Association of Home Builders Housing Market index is then set to come out at 10 a.m. ET.

An auction is scheduled to be held on Tuesday for $60 billion of 14-day bills.

CNBC’s Pippa Stevens contributed to this market report.


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