The U.S. Treasury’s 10-year yield rose slightly, staying above 1.6% on Tuesday morning, before the Federal Reserve’s first policy meeting later in the day.
The yield on the 10-year reference Treasury bill rose to 1.607% at 5 am Eastern Time. Yield on 30-year Treasury bonds fell to 2.357%. Yields move inversely to prices.
Investors will be paying close attention to the Fed’s meetings to see if the U.S. central bank adjusts its interest rate outlook or signals when it can reduce its bond-buying program.
Fed Chairman Jerome Powell will hold a press conference after the second meeting on Wednesday afternoon.
Meanwhile, February retail sales data is expected to be released at 8:30 am ET, along with import and export prices for that month. February industrial production data is expected at 9:15 am ET, followed by January commercial stock data at 10:00 am ET.
The NAHB Housing Market index for March is due to leave at 10am ET.
The auctions will be held on Tuesday for $ 35 billion in 42-day bonds and $ 24 billion in 11-month 19-year bonds.