U.S. Treasury yields were little changed Tuesday as investors awaited new economic data that could provide insight into the state of the economy.
As of 3:21 a.m. ET, the 10-year Treasury yield fell less than 1 basis point to 4.6189%. The two-year bond yield was last up less than 1 basis point at 4.9805%.
Yield and price have an inverse relationship. 1 basis point equals 0.01%.
Economic data released this week could give an indication of the state of the economy and could inform Federal Reserve policy makers' thinking ahead of their April 30-May 1 meeting. .
This includes the Fed's recommended inflation measures, the March personal consumption expenditure price index and first-quarter gross domestic product (GDP), which will be released on Friday.
New home sales statistics for March are scheduled to be released on Tuesday. Economists polled by Dow Jones expect the economy to rise 1.2% in February, after falling 0.3% in February.
Investors will evaluate this week's statistics for clues as to whether the economy continues to prove its resilience and whether inflationary pressures remain tenacious. If true, the numbers could add to concerns that interest rates will remain high for an extended period of time and that there will be fewer cuts than expected this year, or no cuts at all.
Fed policymakers have signaled in recent weeks that there is no need to rush to cut rates, repeatedly saying they would only do so if they believed the economy was easing.