10-year Treasury yield slips further below 5% as traders await Fed comments

U.S. Treasury yields were relatively unchanged on Tuesday as investors awaited new clues on the state of the U.S. economy.

The yield on the benchmark 10-year Treasury note was less than 1 basis point lower at 4.959%. Yields on the 2-year note were down 1 basis point at 4.743%, while the 30-year Treasury yield was flat at 5.296%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

On Wednesday, Michael S. Barr, a member of the central bank's Board of Governors, will speak at a housing affordability summit in Chicago.

The comments are set to come after Chicago Fed President Austan Goolsbee told an audience in London that he was "especially attuned to elevated inflation in service-sector industries, and to any evidence that AI data center construction is spilling out of its own lane and raising aggregate output beyond what the economy can absorb."