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Treasury yields rise as economic reopening continues

U.S. Treasury yields rose on Tuesday morning after several states further eased coronavirus restrictions.

The yield on the benchmark 10-year Treasury note advanced to 1.61% at 4 a.m. ET. The yield on the 30-year Treasury bond rose slightly to 2.29%. Yields move inversely to prices.

Florida Gov. Ron DeSantis signed an executive order on Monday that immediately suspends the state’s remaining Covid-19 public health restrictions. Meanwhile, New York, New Jersey and Connecticut will start to lift capacity restrictions on May 19.

March factory orders data is due out at 10 a.m. ET Tuesday, along with May’s IBD/TIPP economic optimism index.

An auction will be held Tuesday for $40 billion of 42-day bills.

— CNBC’s Lauren Thomas contributed to this report.

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