Ten-year U.S. Treasury yields climbed slightly, staying above 1.6% on Tuesday morning ahead of the Federal Reserve’s first policy meeting later that day.
The yield on the standard 10-year treasury note rose to 1.607% at 5 a.m. ET. The yield on the 30-year Treasury bond fell to 2.357%. Yields move inversely to prices.
Investors will pay close attention to the Fed meetings to see if the US Federal Reserve adjusts its interest rate outlook, or to indicate how soon it can return to its bond-buying program.
Fed Chairman Jerome Powell will hold a press conference on Wednesday afternoon after the second meeting.
Meanwhile, the retail sales data for February should be at 08:30 ET, along with the import and export prices for that month. The industrial production data for February will then be expected at 09:15 ET, followed by data on business inventories for January at 10:00.
The NAHB Housing Market Index of March appears at 10:00 ET.
Auctions are being held Tuesday for $ 35 billion of 42-day bonds and $ 24 billion of 19-year-11 bonds.