Visits: 6
U.S. government debt prices were lower on Tuesday after President Trump said that a breakthrough with China, if it happens, will be announced in three to four weeks.
At around 02:50 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.4121%, while the yield on the 30-year Treasury bond was also higher at around 2.8485%.
U.S. Markets Overview: Treasurys chart
Traders are closely monitoring trade relations between the U.S. and China. This comes after China announced new tariffs on U.S. goods in response to newly-imposed duties by the White House. China announced Monday that it will raise tariffs on $60 billion worth of U.S. goods, beginning June 1. The goods targeted include a broad range of agricultural products.
However, comments from President Trump have brightened up prospects that there might be a deal in the coming weeks. “We’ll let you know in three or four weeks if it’s successful,” he said, according to NBC News.
Elsewhere, traders will also watch new data releases with import and export prices out at 8.30 a.m. ET.
There are no auction sales scheduled.
Meanwhile, Kansas City Fed President Esther George will speak at 12:45 p.m. ET and San Francisco Fed President Mary Daly will speak at 6 p.m. ET.