U.S. Treasury yields fall slightly as investors weigh latest economic data

U.S. Treasury yields fell slightly Tuesday as investors digested the latest batch of economic data.

The yield on the benchmark 10-year Treasury note fell 1 basis point to 3.183%. Meanwhile, the yield on the 30-year Treasury bond fell nearly 2 basis points to trade at 3.286%. Yields move inversely to prices.


Market participants have become increasingly concerned about the prospect of a recession in recent weeks as the Federal Reserve tries to cool soaring inflation with aggressive interest rate hikes.

On the data front, the S&P CoreLogic Case-Shiller national home prices index showed a 20.4% year-over-year jump through April.

The 3pm Bond Report - June 28, 2022
The 3pm Bond Report - June 28, 2022

"April 2022 showed initial (although inconsistent) signs of a deceleration in the growth rate of U.S. home prices. We continue to observe very broad strength in the housing market, as all 20 cities notched double-digit price increases for the 12 months ended in April," said Craig Lazzara, managing director at S&P DJI.

Meanwhile, the consumer confidence index for June came in at 98.7, missing a StreetAccount forecast of 101.

Elsewhere, the Group of Seven wealthy nations on Tuesday concludes its summit in Germany. The meeting has seen G-7 leaders pledge to stand with Ukraine "for as long as it takes" amid Russia's months-long onslaught.

NATO leaders on Tuesday will convene for the start of a high-stakes, three-day summit in Madrid. NATO chief Jens Stoltenberg has said the military alliance plans to increase its high-readiness force from 40,000 troops to "well over" 300,000 in the shadow of Russia's war.