Treasury yields in focus amid economic data, auctions

At around 03:30 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.7450%, while the yield on the 30-year Treasury bond was also lower at around 2.2370%.Market focus is largely attuned to global trade developments, with investors waiting for more clarity on the U.S.-China trade war.China’s vice foreign minister said Tuesday that the world’s two largest economies had achieved some progress in trade talks, before adding the dispute could be resolved as long as both sides respected each other.The U.S. and China secured a limited trade deal last week, in an attempt to end a protracted dispute that has battered financial markets and hammered global growth.On the data front, the Federal Housing Finance Agency (FHFA) will release its house price index for August at around 09:00 a.m. ET.The U.S. Treasury is set to auction $41 billion in 5-year notes and $20 billion in 2-year floating-rate notes (FRNs) on Wednesday.

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