U.S. Treasury bond yields rose Tuesday as investors traders looked ahead to May retail sales data for insights into the health of the consumer.
The 10-year Treasury yield was under a basis point higher at 4.2808%. The 2-year Treasury note yield was also up by less than a basis point to 4.7629%.
Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.
Retail sales data for May is due Tuesday morning. Data on industrial production, manufacturing production and business inventories are also expected in the morning. Other economic reports on home sales, jobless claims and housing starts are expected later in the week.
Last week, the Federal Reserve held its benchmark policy rate steady at 5.25%-5.50% and indicated that just one rate cut would take place this year.
Minneapolis Federal Reserve President Neel Kashkari on Sunday told CBS News that it’s a “reasonable prediction” that the U.S. central bank will cut…
