U.S. Treasury yields declined on Tuesday as investors awaited economic data and earnings reports that could provide hints about the state of the U.S. economy.
Yields and prices have an inverted relationship and one basis point is equivalent to 0.01%.Investors looked to economic data and earnings releases slated for this week for hints about how the U.S. economy is faring as pressures from high inflation and elevated interest rates continue.
S&P Global's flash purchasing managers' index report, which indicates whether economic activity in the manufacturing and services sectors is slowing or contracting, is expected on Tuesday. Further data points, including the personal consumption expenditure price index which is one of the Fed's favored inflation gauges, are due later in the week.
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