U.S. Treasury yields rose on Tuesday as markets reopened after Christmas and investors awaited insights into the state of the U.S. economy.
U.S. Treasury yields climbed on Tuesday as markets reopened after Monday's Christmas holiday and investors awaited data that could provide fresh clues about the state of the U.S. economy.note was up by around three basis points as of 06:12 AM ET and was last trading at around 3.7789%.yield was last up by over two basis points to 4.3464%. An auction of 2-year Treasury notes worth a total of $42 billion is scheduled to take place on Tuesday.
On Tuesday, this includes S&P/Case-Shiller home price data, as well as the Federal Reserve Bank of Dallas' manufacturing index, which reflects the levels of business activity in Texas' manufacturing sector. On Friday, data showed that one of the Federal Reserve's favored inflation gauges — the core personal consumption expenditures price index — rose slightly more than expected on a year-over-year basis.
The Fed has been hiking interest rates in 2022 in an effort to fight persistently high inflation. The central bank increased rates by a further 50 basis points earlier this month after implementing 75 basis point rate hikes at each of its previous four meetings. Concerns about these rate hikes dragging the U.S. economy into a recession have spread among investors in recent weeks.
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