Treasury yields climb after Yellen's confirmation as Treasury secretary

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U.S. Treasury yields edged higher on Tuesday morning, after former Federal Reserve Chair Janet Yellen was confirmed as Treasury secretary on Monday evening.

The yield on the benchmark 10-year Treasury note rose to 1.047% at 4 a.m. ET, while the yield on the 30-year Treasury bond advanced to 1.811%. Yields move inversely to prices.

Treasurys

Treasury yields rose slightly on Tuesday, despite concerns about the potential opposition in Congress to President Joe Biden’s proposed $1.9 trillion stimulus package.

Traders will be watching for the International Monetary Fund’s world economic outlook, which is published twice a year and is due out at 8 a.m. ET.

November data from the S&P/Case-Shiller home price index is due out at 9 a.m. ET.

A January update on CB consumer confidence data is expected at 10 a.m. ET.

Weekly API stock change data for crude oil is then due out at 4:30 p.m. ET.

Auctions will be held Tuesday for $34 billion of 52-week bills, $30 billion of 119-day bills, $30 billion of 42-day bills and $61 billion of 5-year notes.

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