U.S. government debt prices were higher on Tuesday, as investors prepared for the latest news in the auctions space.
The yield on the benchmark 10-year Treasury note was lower at around 2.531 percent at 5:00 a.m. ET, while the yield on the 30-year Treasury bond was down at 2.830 percent. Bond yields move inversely to prices.
Bond markets are opening back up Tuesday, after having been closed on Monday for Martin Luther King Jr. day.
Bonds have been of key importance of late, after big swings in U.S. Treasury yields and news surrounding China.
Last Wednesday, Bloomberg reported, citing people familiar with the matter, that officials in Beijing had recommended that China’s government lowers — or even potentially ceases — its buying of U.S. sovereign debt.
China’s currency regulator has since dismissed the report, which helped ease sentiment for investors across many markets.
The latest Empire State Manufacturing survey is set to come out Tuesday at 8:30 a.m. ET.
Meantime, the U.S. Treasury is set to auction $48 billion in 13-week bills, $42 billion in 26-week bills and $45 billion in four-week bills.
Markets worldwide have been posting gains on Tuesday, with U.S. futures rising sharply.
U.S. equities have been rising lately, on the back of optimism surrounding the U.S. economy and tax reform.
No major speeches by U.S. Federal Reserve are set to take place Tuesday.