Treasuries Move Higher Ahead Of Key Economic Data

(RTTNews) - Following the move to the downside seen in the previous session, treasures regained some ground during trading on Tuesday.

Bond prices moved to the upside early in the session and remained positive throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped by 1.7 basis points to 2.840 percent.

The pullback by the ten-year yield came after it climbed to its highest closing level in four years on Monday.

The strength among treasuries came as traders looked ahead to the release of reports on consumer prices and retail sales on Wednesday.

The data is likely to have a significant impact on how traders perceive the Federal Reserve will act regarding future interest rate hikes.

Reports on producer prices, housing starts, and homebuilder confidence are also due to be released later in the week.