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Treasury yields were largely unchanged on Tuesday as bond markets took a breather ahead of more economic data releases later this week.
The 10-year U.S. Treasury note yield — the key benchmark for mortgages, auto loans and credit card debt — was last seen steady at 4.5522%. The 2-year Treasury note yield, which is typically more sensitive to short-term Federal Reserve interest rate decisions, was 1 basis point higher at 4.1452%.
Meanwhile, the longer-dated 30-year Treasury bond yield, which tends to react mainly to geopolitical risks, was also unchanged at 5.0312%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
Bond markets were taking a breather following Monday’s session, which saw Treasury yields tick higher as investors digested another stronger-than-expected employment print.
Ahead of the latest inflation print, due later this week from the Bureau of Labor Statistics, traders are awaiting new data on existing U.S. home sales from the National Association of Realtors, as well as the ADP’s weekly jobs numbers from private employers, along with imports and exports data from the Census Bureau.
Existing home sales grew by 0.2% in April, reaching an annualized rate of 4.02 million units, rebounding from a seven-month low the previous month. Consensus estimates point to a fresh increase in May, with the annual sales rate forecast to reach 4.07 million.
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