Ten-year U.S. Treasury yields rose slightly, staying above 1.6% on Tuesday morning, ahead of the first Federal Reserve political meeting later.
The yield on the 10-year reference cash note rose to 1.607% at 5 a.m. ET. The yield on the 30-year Treasury bond fell to 2.357%. Yields are reversed to prices.
Investors will be watching the Fed meetings to see if the US central bank lowers its interest rate outlook or indicates whether it can withdraw from its bond-buying program soon.
Fed Chairman Jerome Powell will hold a press conference after the second meeting on Wednesday afternoon.
Meanwhile, February retail sales data will be released at 8:30 am ET, along with this month’s import and export prices. Industrial production data for February is then expected to occur at 9:15 a.m. ET, followed by January business inventory data at 10:00 a.m. ET.
The March housing market NAHB index is scheduled to come out at 10 a.m. ET.
Auctions of $ 35 billion in 42-day bonds and $ 24 billion in 19-month 19-year bonds will be held on Tuesday.