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