U.S. Treasury yields rose on Tuesday as investors awaited the release of a fresh batch of economic data on the first trading day of the week.
The yield on the benchmark 10-year Treasury note was almost 3 basis points higher at 3.267%, while the yield on the 30-year Treasury bond was also up roughly 4 basis points to 3.333%. Yields move inversely to prices.
Treasurys
U.S. markets were closed on Monday for the Juneteenth holiday.
Tuesday’s trading session comes after a volatile week that saw major central banks signal a more aggressive effort to curtail soaring inflation.
The Federal Reserve on Wednesday increased its benchmark funds rate by 75 basis points, the largest hike since 1994, with annual U.S. inflation running at a 40-year high of 8.6% in May.
The Swiss National Bank then surprised markets with its first rate hike in 15 years on Thursday, while the Bank of England implemented its fifth consecutive hike.
On the data front, the Philadelphia Fed non-manufacturing survey for June will be released at around 8:30 a.m. ET, with existing home sales for May set to follow slightly later in the session.
The U.S. Treasury will auction $45 billion in 13-week bills and $42 billion in 26-week bills on Tuesday.
— CNBC’s Samantha Subin and Elliot Smith contributed to this report.
