Dow Jones – The benchmark 10-year Treasury note price rose on Tuesday, pulling down the yield, ahead of a key home sales number that could give investors a snapshot of inflationary pressures from the housing market.
10-year US Treasury yields fell 1.6 basis points to 2.354%. The 2-year yield was slightly up at 1.763%, versus 1.754% late Monday, while the 30-year bond yield was down 3 basis points to 2.758%.
Bond prices move in the opposite direction of yields.
Home sales data
Investors will eye existing home sales data out later today, which could set the tone for the rest of the trading session.
Housing and rental prices are an important component of inflation measures. A strong number could raise the outlook for inflationary pressures running into next year.