Equities

Treasury yields in focus as investors monitor data, auctions


At around 02:50 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.7958%, while the yield on the 30-year Treasury bond was also higher at around 2.2848%.Market focus is largely attuned to global trade developments after China’s vice foreign minister said that Beijing and Washington had achieved some progress in their trade talks.His comments come less than 24 hours after President Donald Trump sounded optimistic about the prospect of a trade agreement by the middle of next month.Last week, the U.S. and China secured a limited trade agreement, prompting Washington to suspend a scheduled tariff hike for October.The world’s two largest economies have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.On the data front, the Philadelphia Fed non-manufacturing index for October will be released at around 8:30 a.m. ET. Existing home sales for September and the Richmond Fed survey for October will follow slightly later in the session.The U.S. Treasury is set to auction $40 billion in 2-year notes on Tuesday.

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