U.S. Treasury yields ticked down Tuesday as investors weighed Federal Reserve speaker comments for hints about future interest rate policy and the central bank's view on the state of the U.S. economy.
At around 4:00 p.m. ET, the yield on the benchmark 10-year Treasury was down by 6.7 basis points to 3.76%. The 2-year Treasury yield was last at 4.529%, up slightly.
Yields and prices have an inverted relationship. One basis point is equivalent to 0.01%.
Treasurys
Fed officials speaking in recent days and last week have been indicating that interest rates will continue to rise.
That comes after recent economic data suggested that inflationary pressures were easing, which led many investors to believe that the central bank would pause or slow rate hikes.
On Monday, Cleveland Fed President Loretta Mester told CNBC's "Closing Bell" that the pace of rate hikes could be slowed, but inflation figures were not yet convincing enough to stop the hikes entirely.
"We've had some good news on the inflation front, but we need to see more good news and sustained good news to make sure that we are returning to price stability as soon as we can," she said.
Next, investors are waiting for economic data on inflation and for minutes from the central bank's last meeting, which will be published on Wednesday.
Bond markets will be closed on Thursday for Thanksgiving and will close early on Friday.