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U.S. government debt yields were slightly lower on Tuesday morning, pulling back from the slim gains seen in the previous session.
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At around 3:30 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.5168 percent, while the yield on the 30-year Treasury bond was also lower at 2.9211 percent.
On Monday, Treasury yields ticked higher after the U.S. government said new orders for domestic goods fell in February, suggesting a softening in the manufacturing sector. Concerns about U.S. earnings have dragged on equities in recent sessions, pushing investors toward fixed-income assets. J.P. Morgan Chase & Co and Wells Fargo are both poised to report their latest figures on Friday.
Also on Monday, U.S. Trade Representative Robert Lighthizer proposed a list of European Union products on which to slap tariffs as retaliation for European aircraft subsidies.
On Tuesday, NFIB small business optimism index numbers will be out at 6:00 a.m. ET, followed by JOLTS at 10 a.m. ET. The Labor Department’s JOLTS report tracks monthly changes in job openings.
Federal Reserve Vice Chair Randal Quarles will speak at the George Mason University “Meet the Policymakers” Forum and Vice Chairman Richard Clarida is speaking at the Minneapolis Fed’s Opportunity & Inclusive Growth Institute Spring Conference.
Meanwhile, oil prices scaled new 2019 highs on Monday, with the international benchmark Brent crude futures contract adding 1.1 percent to settle at $71.10 per barrel. U.S. crude futures also rose 2.1 percent to settle at $64.40 per barrel.
The U.S. Treasury will auction $38 billion in three-year notes on Tuesday.
—CNBC’s Sam Meredith and Spriha Srivastava contributed to this article.