Authorities bond yields are little modified as the main target stays on the financial outlook and earnings
Johannes Zich Bloomberg | Getty Images
US Treasury yields were little changed on Tuesday as investors continued to assess the outlook for the US economy and digest the latest round of corporate earnings.
From about 2:20 ET, the return is on benchmark 10 year treasury note was slightly higher at 3.5946% while the yield on the 30-year government bond also slightly bumped up to 3.8080%. Yields move inversely with prices.
The corporate earnings season dominates this week’s agenda, with giants Johnson & Johnson, Bank of America and Goldman Sachs all due to report ahead of Tuesday’s Wall Street opening bell.
On the data front, traders will be keeping an eye on March housing starts and building permit counts, which are due at 8:30 am ET. Housing starts for the month are expected to have declined 3.4% to 1.40 million units, while building permits are expected to fall 4.9% to 1.45 million units, according to Dow Jones consensus estimates.
Markets are closely following economic data for where the Federal Reserve might adopt interest rates at its next meeting in early May. According to CME Group’s FedWatch tool, more than 84% of traders are calling for a 25 basis point hike at the next policy meeting.
An auction for $34 billion worth of 52-week Treasury bills will be held on Tuesday.