10-year Treasury yield dips below 2%
Treasury yields traded modestly lower on Tuesday as investors monitored the U.S.’s intensifying spat with Iran over recent sanctions and signs that a trade deal may not be reached at the upcoming meeting of U.S. President Donald Trump and Chinese leader Xi Jinping.
What’s driving Treasurys? The budding optimism going into the G-20 summit waned after Reuters reported that a senior U.S. official said that President Donald Trump would be “comfortable with any outcome” from his scheduled talks with Chinese leader Xi Jinping. Still, both U.S. and Chinese trade officials agreed to resume trade negotiations ahead of the meeting.
Investors will also keep their eye on a raft of speakers from the U.S. central bank, headlined by Federal Reserve Chairman Jerome Powell who is set to speak at 1 p.m. Eastern time. Other policy makers set to talk include New York Fed President John Williams, Atlanta Fed President Raphael Bostic, and St. Louis Fed President James Bullard.
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