U.S. Treasury yields moved higher on Tuesday as market participants awaited new economic data and further comments from Federal Reserve officials.
The rate of return is 10-Year Treasury Bond increased by more than 5 percentage points to 3.791%, while 2-Year Treasury Bond The yield rose nearly 3 basis points to 3.605%.
Yields and prices move in opposite directions. 1 basis point is equivalent to 0.01%.
10-year Treasury yields ended last week Up nearly 8 basis points After the Federal Reserve cut interest rates by 50 basis points on Wednesday. Markets raised the possibility of big moves ahead of the meeting, but the news surprised many economists.
Market participants questioned whether the move was good news for the world’s largest economy. Or is it a sign that it’s waning? It’s more serious than previously imagined.
Minneapolis Federal Reserve President Neel Kashkari on Monday explain He expects policymakers to slow the pace of rate cuts after cutting rates by half a percentage point last week.
“I think after 50 basis points we’re still in a net tight position,” Kashkari told CNBC’s “Squawk Box.” “So I’d be happy to take a bigger first step and then as the As we move forward, I expect, generally speaking, we’ll probably take smaller steps unless the data changes significantly.”
Investors will be watching closely for further comments from Fed officials. Fed Governor Michelle Bowman and Fed Governor Adriana Kugler are both scheduled to speak on the U.S. economic outlook at separate events on Tuesday.
On the data front, July home prices will be released around 9 a.m. ET on Tuesday.
September consumer sentiment data and the Richmond Fed September survey are both scheduled for release at 10 a.m. ET.
—CNBC’s Jeff Cox, Brian Evans and Jenni Reid contributed to this report.
