U.S. Treasury yields were higher on Tuesday as market participants awaited fresh economic data and further comments from Federal Reserve officials.
The yield on the 10-year Treasury was more than 4 basis points higher at 3.789%, while the 2-year Treasury yield rose 2 basis points to trade at 3.597%.
Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.
The 10-year Treasury yield ended last week almost 8 basis points higher after the U.S. central bank lowered interest rates by 50 basis points on Wednesday. Markets had raised the probability of the outsized move ahead of the meeting, but the announcement came as a surprise to many economists.
Market participants have questioned whether the move was good news for the world’s largest economy, or a sign it is weakening more severely than previously thought.
Minneapolis Federal Reserve President Neel Kashkari on Monday said that he expects policymakers to slow…
