U.S. Treasury yields fell on Tuesday, with investors focused on economic data releases.The yield on the benchmark 10-year Treasury note fell 3 basis points to 2.8225% at 3:45 a.m. ET. The yield on the 30-year Treasury bond moved 3 basis points lower to 3.304%. Yields move inversely to prices and 1 basis point is equal to 0.01%.The effects of rising inflation on the economy and how this is feeding through into data, are being closely watched by investors, given growing fears of a recession.On Tuesday, S&P Global’s flash purchasing managers’ index readings for May are scheduled for release at 9:45 a.m. ET. April’s new home sales data is then due out at 10 a.m. ET.Stock picks and investing trends from CNBC Pro:The impact of interest rate hikes and a broad tightening of monetary policy by the Federal Reserve is also being monitored by investors.Fed Chair Jerome Powell is due to give the welcoming remarks at the National Center for American Indian Enterprise Development 2022 Reservation Economic Summit, at 12:20 p.m. ET.An auction is scheduled to be held on Tuesday for $47 billion of two-year notes.