US-China trade talks continue, data and auctions in focus
The yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.6977 percent, while the yield on the 30-year Treasury bond was also higher at 2.9916 percent.
The moves in pre-market trade come as dozens of officials from the world’s two largest economies resume talks in a bid to end their ongoing trade dispute.
U.S. Commerce Secretary Wilbur Ross told Imagala.com on Monday that both global powers could reach a settlement “they can live with, and that addresses all the key issues.”
China’s Foreign Ministry previously said Beijing had “good faith” to work with Washington to reach an agreement before a March deadline. However, many analysts remain deeply skeptical about the likelihood of both sides brokering a comprehensive trade deal.
On the data front, investors are likely to monitor the NFIB’s small business optimism index for December at around 06:00 a.m. ET. The latest monthly Job Openings and Labor Turnover Survey (JOLTS) and consumer credit figures for November are expected to be published later in the session.
Meanwhile, the U.S. Treasury is set to auction $38 billion in 3-year notes on Tuesday.
In oil markets, crude futures were stable Tuesday, drawing some support from OPEC-led supply cuts.
International benchmark Brent crude traded at around $57.65 Tuesday morning, up around 0.5 percent, while U.S. West Texas Intermediate (WTI) stood at around $48.71, more than 0.4 percent higher.