U.S. government debt prices traded higher Tuesday morning as investors awaited new jobs data and monitored U.S. House Speaker Nancy Pelosi’s trip to Asia.
At around 2:40 a.m. ET, the yield on the benchmark 10-year Treasury note dropped to 2.5535% and the yield on the 30-year Treasury bond also fell to 2.8906%. Yields move inversely to prices.
Treasurys
The moves come at a time when many investors are questioning whether the Federal Reserve will have to reduce the pace of monetary tightening, given that several economic readings have shown the United States economy is slowing down.
Investors are also monitoring Tuesday U.S.-China relations as Pelosi is expected to meet with Taiwanese officials despite objections from China.
On the data front, there will be new job numbers, rental vacancy rates and homeowner figures at 10 a.m. ET. Chicago Fed President Charles Evans is also due to speak at that time. St. Louis Fed President James Bullard is addressing an audience at 6:45 p.m. ET.
