Treasury yields fell on Tuesday morning as the investment remained in a key job report to be released later in the week.
The yield on the 10-year benchmark treasury note fell less than one basis point to 1.277% at 3:45 am ET. The yield on the 30-year Treasury bond yielded less than one basis point, to 1.89%. Yields move inversely to prices and a basis point equals 0.01%.
The August non-farm payroll report is due to be released Friday at 8:30 a.m. ET. Economists surveyed by Dow Jones predict that 750,000 jobs were created in August and the unemployment rate fell to 5.2%.
The Federal Reserve is monitoring the recovery of the labor market to assess when monetary policy should be tightened.
Fed Chairman Jerome Powell indicated Friday in a speech at the annual Jackson Hole central bank symposium that he would likely begin downgrading bond purchases before the end of the year. However, Powell said interest rate hikes were not imminent, as there was still “a lot of ground to cover” before the economy reached full employment.
As for the data to be released on Tuesday, the June S & P / Case-Shiller home price index is due to be released at 9 p.m. ET. The August CB Consumer Confidence Survey will be published at 10 a.m. ET.
An auction for $ 45 billion in 21-day bills will be held on Tuesday.
– CNBC’s Yun Li and Jeff Cox contributed to this market report.