U.S. government debt prices were higher on Tuesday morning as investors monitored stimulus discussions and awaited the first debate ahead of the U.S. presidential election.
At around 2:20 a.m. ET, the yield on the benchmark 10-year Treasury note dropped 1.04% to trade at 0.6561%. In the meantime, the yield on the 30-year Treasury bond fell by 0.57% to trade at 1.4149%. Yields move inversely to prices.
President Donald Trump and Democratic challenger Joe Biden will participate in a televised debate tonight — the first before U.S. voters head to the polls in November.
On the data front, there will be consumer confidence figures at 10 a.m. ET and the Dallas Fed services figures will be released 30 minutes later.
In addition, New York Fed President John Williams is due to speak at 9:15 a.m. ET; Philadelphia Fed President Patrick Harker is participating in a webinar at 9:30 a.m. ET and Fed Vice Chair Richard Clarida will also speak at 11:40 a.m. ET.
The Treasury is due to auction $30 billion in 42-day CMBs (cash management bills) and $30 billion in 119-day CMBs.
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