U.S. Treasury yields moved lower during Tuesday’s trading session as market participants positioned themselves ahead of key employment reports. The benchmark 10-year Treasury yield decreased by nearly 2 basis points to 4.207%, with the 30-year yield falling more significantly to 4.75%. The 2-year yield saw minimal movement, dipping to 3.713%.
With Independence Day closing markets on July 4, the crucial June payroll data will be released Thursday rather than Friday. Wednesday’s ADP private payrolls report will provide an early indicator of employment trends. Additionally, investors are monitoring President Trump’s comprehensive spending legislation, which narrowly passed a procedural vote in the Senate 51-49. The bill, projected to increase the national debt by $3.3 trillion over the next decade, faced opposition from all Democrats and two Republicans. Federal Reserve Chair Jerome Powell is also scheduled to speak at the European Central Bank’s Forum in Portugal.