- The December IBD/TIPP economic optimism index is due to be released at 10 a.m. ET on Tuesday.
- An auction is scheduled to be held on Tuesday for $54 billion of 3-year notes.
U.S. Treasury yields rose on Tuesday morning, as concerns eased slightly around the omicron Covid variant.
The yield on the benchmark 10-year Treasury note added 1 basis point, rising to 1.4444% at 4 a.m. ET. The yield on the 30-year Treasury bond climbed by 2 basis points to 1.7784%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Investors are keeping an eye on further developments around the omicron variant. White House Chief Medical Advisor Dr. Anthony Fauci said Sunday that the initial data on the variant is "encouraging," though he cautioned that more information is needed.
In addition, investors are also monitoring the Federal Reserve's plans to tighten monetary policy.
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Comments by Fed officials suggest the central bank is likely to decide to double the pace of its taper to $30 billion a month at its December meeting next week. Initial discussions could also begin as soon as the December meeting about when to raise interest rates and by how much next year.
The December IBD/TIPP economic optimism index is due to be released at 10 a.m. ET today.
An auction is scheduled to be held on Tuesday for $54 billion of 3-year notes.
— CNBC's Yun Li contributed to this market report.
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