US Treasury bond yields barely changed Tuesday morning amid concerns about slowing growth.
The benchmark ten-year government bond yield rose less than one basis point to 1.176% at 9:30 a.m. ET. The yield on the 30-year government bond fell slightly to 1.847%. The returns move inversely to the prices and one basis point equals 0.01%.
The 10-year yield fell to 1.15% on Monday after data showed the US manufacturing sector expanded more slowly in July than in the previous month.
The spread of the delta coronavirus variant also worried investors. The seven-day average of daily coronavirus cases in the US hit 72,790 on Friday, beating its peak last summer when the nation did not have an approved Covid-19 vaccine, according to data compiled by the Centers for Disease Control and Prevention .
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In addition, Federal Reserve Governor Christopher Waller told CNBC on Monday that the central bank could begin curbing its bond purchases as early as October.
Fed Governor Michelle Bowman will speak on working towards an inclusive labor recovery at a research seminar sponsored by the Central Bank’s Board of Governors on Tuesday at 2 p.m.
On the data front, the IBD / TIPP Economic Optimism Index for August will be released on Tuesday at 10 a.m. ET. The order dates for the June plants will also be released at 10 a.m. ET.
An auction for 42-day notes valued at US $ 20 billion is due to take place on Tuesday.
– CNBC’s Yun Li contributed to this market report.