• At around 02:10 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.5776 percent, while the yield on the 30-year Treasury bond was also lower at 2.9824 percent.
  • The U.S. Treasury is set to auction $26 billion in 52-week bills and $40 billion in two-year notes on Tuesday.

U.S. government debt prices were higher Tuesday morning, as market participants looked ahead to economic data and Treasury auctions.

At around 02:10 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.5776 percent, while the yield on the 30-year Treasury bond was also lower at 2.9824 percent.

On the data front, the latest Philadelphia Fed nonmanufacturing survey and FHFA Housing Price Index for February will be published during early morning deals. New home sales for March and the Richmond Fed survey for April will both be released at around 10:00 a.m. ET.

The Federal Reserve Board will hold an open meeting Tuesday to discuss a proposal that would simplify and increase the transparency of its rules of determining control of a banking organization.

Meanwhile, White House economic advisor Larry Kudlow is scheduled to comment on the U.S. economy and recent market volatility at a National Press Club event.

The U.S. Treasury is set to auction $26 billion in 52-week bills and $40 billion in two-year notes on Tuesday.

Oil prices jumped more than 2% in the previous session, hitting their highest level this year amid intensifying concern about global supplies after the U.S. announced a further clampdown on Iran’s oil exports.

The world’s largest economy said from May 1, it would eliminate all waivers allowing eight economies to buy Iranian oil without facing U.S. sanctions.

International benchmark Brent crude traded at $74.40 Tuesday morning, up around 0.5%, while U.S. West Texas Intermediate (WTI) stood at $65.93, almost 0.6% higher.

Source: CNBC