Treasury yields inch lower ahead of first bond auction of week

U.S. Treasury yields declined slightly in early Tuesday trade before a debt auction is expected to highlight the U.S. government’s ultra-low borrowing costs as the economy recovers from the coronavirus crisis.

What are Treasurys doing?

The 10-year Treasury note yield

fell 1.1 basis point to 0.673%, while the 2-year note rate

was flat at 0.161%. The 30-year bond

slipped 1.8 basis points to 1.424%.

What’s driving Treasurys?

The Treasury Department will auction off $46 billion of 3-year notes on Tuesday at 1 p.m. ET, which is expected to sell at the lowest yield in the maturity’s history.

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