U.S. Treasury yields climbed on Tuesday as investors monitored data reports that could provide fresh hints into the state of the economy and the Federal Reserve rate path.
The 10-year Treasury yield traded more than 4 basis points higher at 3.764%. The 2-year Treasury was last up 9 basis points at 4.762%.
Yields and prices move in opposite directions and one basis point equals 0.01%.
Wall Street scrutinized key data on Tuesday that signaled a resilient economy despite recession fears ahead of Friday's keynote personal consumption expenditure price index report. May durable goods orders data that showed a surprising increase for the month, while home sales and consumer confidence also came in stronger than expected.
Get top local stories in Southern California delivered to you every morning. Sign up for NBC LA's News Headlines newsletter.
"Overall the U.S. economy is still chugging along, and that will complicate the disinflation process for the Fed," said Ed Moya, senior market analyst at Oanda.
Investors are looking ahead to two appearances from Fed Chairman Jerome Powell. Many hope the remarks will offer clues about upcoming monetary policy moves after his comments last week suggested that further interest rate hikes are likely.
Powell recently noted that the Fed's next moves would be data dependent, suggesting that this week's economic reports could inform the central bank's discussions at its upcoming policy meeting in July.
Money Report
Investors also continued to watch developments in Russia after a brief rebellion from the Wagner Group, led by its chief Yevgeny Prigozhin, took place over the weekend.
