U.S. Treasury yields dipped slightly on Tuesday as investors watched the latest corporate earnings, while renewed concerns about the pandemic drove investors to safe-haven bonds.
The yield on the benchmark 10-year Treasury note fell 2 basis points to 1.5% The yield on the 30-year Treasury bond was slightly lower at 2.26%. Yields move inversely to prices.
The first-quarter earnings season got off to a strong start last week as the major U.S. banks reported. Financials earnings have topped expectations by 38%, while others in the S&P 500 have surprised to the upside by 12%, according to data from Credit Suisse.
Yields declined after the World Health Organization warned that global coronavirus infections were edging toward their highest level in the pandemic. In the U.S., while the country is maintaining a pace of 3 million reported vaccinations per day, about 67,100 daily new infections are still being recorded.
There are no major economic data releases due out on Tuesday.
Auctions are set to be held for $34 billion of 52-week bills and $40 billion of 42-day bills.
— CNBC’s Maggie Fitzgerald contributed to this report.
