U.S. government debt prices were lower Tuesday morning as traders looked ahead to fresh economic data and monitored developments in the U.S.-China trade war.
At around 5:00 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.6335%, while the yield on the 30-year Treasury bond was also higher at around 2.1142%.
On Monday, U.S. Treasury Secretary Steven Mnuchin said that there is a “conceptual agreement” around intellectual property theft with China. This is one of the most contentious issues between both countries in their protracted trade war.
Investors will be looking ahead to a new Job Openings and Labor Turnover Survey (JOLTS), due at 10:00 a.m. ET. Earlier in the day, a small business data survey will be released.
The U.S. Treasury is set to auction $28 billion in 52-week bills and $38 billion in three-year notes.