U.S. government debt prices were higher on Tuesday morning, as investors monitored a fresh batch of economic data and Treasury auctions.
At around 2:05 a.m. ET, the yield on the benchmark 10-year Treasury note was lower at 0.6704%, while the yield on the 30-year Treasury bond was also down at 1.4147%. Yields move inversely to prices.
Market focus is largely attuned to simmering U.S.-China tensions and ongoing concerns about the economic impact of the coronavirus pandemic.
The U.S. tightened restrictions on China’s Huawei on Monday, seeking to make it more difficult for the tech giant to obtain critical components.
The Department of Commerce also added 38 Huawei affiliates onto a trade blacklist called the Entity List.
Meanwhile, U.S. lawmakers remain locked in a stalemate over a potential new coronavirus stimulus deal. Democrats and Republicans are holding their respective presidential nominating conventions starting this week.
On the data front, housing starts for July, building permits for July and business leaders survey figures for August will all be released at 8:30 a.m. ET.
The U.S. Treasury will auction $30 billion of 119-day bills and $30 billion of 42-day bills on Tuesday.
