U.S. government debt prices were higher Tuesday, following the release of solid manufacturing data in the U.S. and China.
The yield on the benchmark 10-year Treasury note fell to 2.476 percent, while the yield on the 30-year Treasury bond dipped to 2.876 percent. Bond yields move inversely to prices.
Market players digested strong manufacturing data of the U.S. and China.
U.S. factory activity expanded last month, data showed, rebounding from its lowest level since late 2016. A separate survey showed China’s manufacturing activity also rebounded, expanding at its fastest pace in eight months.
The numbers cooled investor concerns over a potential global economic slowdown Monday, triggering a pivot toward riskier assets.
In other data news, U.S. durable goods orders are due at 8:30 a.m. ET.