U.S. Treasury yields fell on Tuesday as investors awaited comments from Federal Reserve officials and looked to key inflation data due later in the week.
Yields and prices move in opposite directions and one basis point equals 0.01%.Investors braced themselves for fresh inflation figures due this week, including the consumer price index print and core inflation figures on Wednesday and the producer price index report on Thursday.
The data is likely to inform the Federal Reserve's next policy moves, including regarding interest rates. At the conclusion of its last meeting in March, the central bank hinted thatBefore then, investors will hear from a series of central bank officials, with Chicago Fed President Austan Goolsbee, Philadelphia Fed President Patrick Harker and Minneapolis Fed President Neel Kashkari due to make remarks on Tuesday.
Meanwhile, various major U.S. banks are slated to publish earnings reports later in the week. Investors will be watching the releases closely to assess the state of the banking sector after last month's turmoil and concerns about the stability of the financial system.
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