10-year Treasury yield continues to retreat from last week’s high

US News

U.S. Treasury yields fell on Tuesday morning, with investors expected to be watching for comments on the economy in key speeches later in the day.

The yield on the benchmark 10-year Treasury note fell to 1.426% at 3:50 a.m. ET. The yield on the 30-year Treasury bond dipped to 2.206%. Yields move inversely to prices.

Treasury yields ebbed lower, with the 10-year continuing to fall back from last week’s highs, when it topped 1.6%.

Investors on Tuesday will be keeping a close watch on comments made by both Securities and Exchange Commission Chair nominee Gary Gensler and Federal Reserve Governor Lael Brainard.

Gensler will testify before the Senate Banking Committee at 10 a.m. ET.

Brainard will then deliver a speech entitled “U.S. Economic Outlook and Monetary Policy” via a virtual meeting hosted by the Council on Foreign Relations, at 1 p.m. ET.

March data from the IBD/TIPP Economic Optimism index is due out at 10 a.m. ET.

An auction will be held Tuesday for $30 billion of 42-day bills.

CNBC’s Thomas Franck contributed to this report.

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