U.S. government debt prices were mixed Tuesday as investors eyed President-elect Donald Trump's future policies, a slew of economic data reports and reacted to a global bond sell-off at the start of the trading week.
A bond market rout had been sparked by investors predicting Trump's economic plan would likely return the U.S to inflation, which typically has an adverse impact on bonds.
The yield on the benchmark 10-year Treasury notes hovered around breakeven at 2.225 percent, while the yield on the 30-year Treasury bond was lower at 2.968 percent. The two-year note yield, meanwhile, rose about 2 basis points to 1.001 percent.
Renewed optimism over OPEC meeting
Treasurys
On the data front Tuesday, retail sales and import price figures both beat expectations. Other data released Tuesday included business inventories for September, which came in line with expectations.
Also on Tuesday, Boston Fed President Eric Rosengren said the central bank won't be easily swayed from a December rate hike. Fed Vice Chair Stanley Fischer spoke, but did not address monetary policy.
In oil markets, Brent crude settled up at $47.05 on Tuesday, up 0.21 percent, while U.S. crude was around $45.85 a barrel, up 5.89 percent, recovering from multi-month lows the day previous as renewed expectations that OPEC could deliver cuts to production at a key meeting later this month boosted the commodity, according to a Reuters report.