U.S. Treasury yields turned slightly higher on Tuesday following a series of economic data released in the morning, including better-than-expected retail data.
The yield on the benchmark 10-year Treasury note rose nearly 1 basis point, to 1.627% at 12:20 p.m. ET. The yield on the 30-year Treasury bond rose less than 1 basis point to 2.01%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
The moves come after retail sales figures for October came in 1.7% higher, compared to 0.7% up in September, The Census Bureau reported Tuesday. Economists surveyed by Dow Jones expected sales to have jumped by 1.5%.
Homebuilder confidence rose 3 points to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Analysts expected it to remain unchanged at 80.
The moves in yields come after the 10-year yield hit 1.62% on Monday, amid mounting concerns about inflation.
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.
