The yield on the US 10-year Treasury note was little changed in search of catalysts to drive movement moving forward.
- The yield on the note was nearly unchanged at 1.591% at 8 a.m. ET on Tuesday, while the 30-year Treasury bond climbed 2.6 bases to 2.044%. Yields swung inversely to prices, with a basis point equal to 0.01%.
- This comes as the 10-year rate topped 1.6% on Monday, after better-than-expected retail sales on Friday, which drove investor sentiment higher regarding the economy.
- Officials of the Federal Reserve indicated that the central bank was moving closer to reaching economic goals and hinted at the possible normalization of monetary policy.
Fed Governor Christopher Waller is set to discuss the updated economic outlook at 3 p.m. ET, while an auction for $60 billion of 40-day bills is scheduled on Tuesday.