Treasury yields rise as traders look ahead to central bank decisions
- Market focus is largely attuned to central banks, with the ECB monetary policy meeting coming up on Thursday ahead of the U.S. Federal Reserve's Federal Open Markets Committee (FOMC) meeting next week.
U.S. government debt prices fell on Tuesday as traders await monetary policy decisions from the European Central Bank (ECB) this week and the Federal Reserve next week.
U.S. Markets Overview: Treasurys chart
At around 4:40 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.0568%, while the yield on the 30-year Treasury bond climbed to 2.5784%.
Market focus is largely attuned to central banks, with the ECB monetary policy meeting coming up on Thursday ahead of the U.S. Federal Reserve's Federal Open Markets Committee (FOMC) meeting next week.
Traders are waiting to see whether European policymakers will lower a key deposit rate by 10 basis points in order to mitigate risk of global trade tensions and sub-par regional inflation.
Draghi suggested in a speech in Sintra last month that further stimulus may be necessary for the euro zone, while investors stateside have been processing mixed messages from senior figures at the Fed.
U.S. economic data will also be in focus on Tuesday, with May's Federal Housing Finance Agency House Price Index (HPI) due at 9:00 a.m. ET and June's existing home sales figures set for release at 10:00 a.m. ET.
– CNBC's Thomas Franck contributed to this report.
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