* Global supply calendar weighs
* German investor sentiment index rises to four-year high
* Retail sales, consumer price, home sales data due on Wednesday
NEW YORK, Nov 19 (Reuters) - U.S. Treasury debt prices slipped on Tuesday, pressured by a large global supply calendar and a rise in a German investor sentiment index.
German analyst and investor sentiment beat expectations in November, rising to its highest in four years, helped by a slightly improved economic outlook for the euro zone, a survey showed on Tuesday.
"A somewhat heavy global supply calendar of about $18 billion and slightly better ZEW surveys have Treasuries and bunds very slightly on the defensive entering the New York session," said John Briggs, U.S. rates strategist at RBS Securities in Stamford, Connecticut.
The U.S. third-quarter employment cost index showed that U.S. labor costs rose just 0.4 percent in the third quarter, data that argued for stimulative monetary policy.
An event of keen interest to the market, Federal Reserve Chairman Ben Bernanke's speech to the National Economics Club, is scheduled for this evening at 7 p.m. EST (midnight GMT).
"The subject of the speech is communication and monetary policy so there is plenty of room for Bernanke to deliver market moving comments," Briggs said.
Still, "I'd expect further reinforcement of low for a long time," Briggs added, referring to interest rates.
The benchmark 10-year Treasury note fell 8/32, its yield rising to 2.70 percent.
"Major resistance lines up at 2.45 percent, our target for the bullish correction," Briggs said. If support is taken out at 2.75 percent, the next support lines up at 3.00 percent, he said. "Daily momentum is now bullish."
Daniel Heckman, senior fixed income strategist at U.S. Bank Wealth Management in Kansas City, Missouri said yields had very little downside.
"Economic data has been a little bit of a mix. The door is still open for tapering to occur," he said, referring to the possibility that the Fed could trim its purchases of Treasuries and mortgage-backed securities as soon as December.
Wednesday is the first day of the week offering a basket of fresh economic data. Figures on October retail sales, consumer prices, and home sales are due that day.
The 30-year bond slipped 12/32 in price. Its yield rose to 3.78 percent.