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US Treasury yields mixed after key remarks from Fed's Powell

U.S. government debt yields were mixed Tuesday as investors turned their attention to the latest comments from a governor at the U.S. Federal Reserve.

The yield on the benchmark 10-year Treasury note sat lower at 2.332 percent at 1:07 p.m. ET, while the yield on the 30-year Treasury bond was up at 2.877 percent. Bond yields move inversely to prices.

U.S. Markets Overview: Treasurys chart

Looking to the U.S. central bank, Fed Governor Jerome Powell delivered remarks at a Reuters Conversation on U.S. financial regulation. The governor was confident watchdogs would reach an agreement to significantly reduce the burden of the so-called Volcker Rule banning banks from speculating with their own money, according to Reuters.

"I am confident of what the outcome is going to be. I think we are going to be able to get to a five-agency rule on Volcker that is significantly less burdensome," Powell told a Reuters Summit in Washington D.C., adding it would not however be a quick or easy process.

"You do have to get agreement from the agencies, that's a process I'm going to respect. We're just going to have to work through it, and the time will be what it is. The important thing is to get it right."

In addition to interviewing former Fed Governor Kevin Warsh last week for the position of Federal Reserve chairman, President Donald Trump also has spoken to Powell in recent weeks, according to a report Friday afternoon from the Wall Street Journal, which cited a White House source.

Elsewhere in central bank news, the Reserve Bank of Australia chose to keep its rates unchanged Tuesday, with the institution's governor saying in a statement that the central bank expects economic growth to gradually pick up over the coming year.

One of the key stories set to dominate Tuesday is the deadly shooting in Las Vegas on Sunday night. At least 59 people were killed and more than 500 have been injured after a gunman opened fire on thousands of concertgoers at a country music festival. The incident has been categorized as the deadliest mass shooting in modern U.S. history.

On the commodities front, oil prices showed signs of being under slight pressure during morning trade, as global supply glut concerns continued to weigh on investor sentiment.

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