Treasury yields fall as inflation fears ease

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U.S. Treasury yields fell on Tuesday morning, following recent comments from Federal Reserve officials, allaying fears around inflation.

The yield on the benchmark 10-year Treasury note fell to 1.591% at 4:20 a.m. ET. The yield on the 30-year Treasury bond dipped to 2.283%. Yields move inversely to prices.

Fed Vice Chair for Supervision Randal Quarles is due to speak before the U.S. Senate Committee on Banking, Housing and Urban Affairs at 10 a.m. ET on Tuesday.

In terms of data Tuesday, the March S&P/Case-Shiller home price index is due out at 9 a.m. ET. New home sales data for April is then expected to be released at 10 a.m. ET.

Auctions will be held Tuesday for $40 billion of 42-day bills and $60 billion of 2-year notes.

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