Treasury yields move lower as investors await economic data, Fed speeches

• At around 02:05 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.0170%, while the yield on the 30-year Treasury bond was also lower at around 2.5449%.
• Market participants are likely to closely monitor speeches from policymakers at the U.S. central bank.
• Elsewhere, oil prices were slightly higher after OPEC extended production cuts until March 2020 during a meeting in Vienna, Austria on Monday.

U.S. government debt prices were higher Tuesday morning, as market participants monitored economic data and the latest comments from policymakers at the Federal Reserve.

U.S. Markets Overview: Treasurys chart

At around 02:05 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.0170%, while the yield on the 30-year Treasury bond was also lower at around 2.5449%.

Market participants are likely to closely monitor speeches from policymakers at the U.S. central bank. New York Fed President John Williams and Cleveland Fed President Loretta Mester are both scheduled to comment on the world's largest economy on Tuesday.

On the data front, investors are likely to monitor the latest light vehicle sales figures for June on Tuesday.

No major Treasury auctions were expected on Tuesday.

Elsewhere, oil prices were slightly higher after OPEC extended production cuts until March 2020 during a meeting in Vienna, Austria on Monday. The Middle East-dominated producer group overcame their differences in order to continue with a policy designed to prop up the price of crude.

OPEC is scheduled to meet with Russia and other non-OPEC producers, an energy alliance known as OPEC+, later on Tuesday to discuss supply cuts amid surging U.S. output.

International Brent crude traded at around $65.40 during early morning deals, up 0.6%, while U.S. crude stood at $59.40, up over 0.5%.

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