Jamie Chisholm is a markets reporter based in London.
Treasury yields fell early Tuesday as a trio of factors were seen boosting the attraction of U.S. government debt.
A number of factors were seen seen supporting prices and suppressing yields. News that China’s manufacturing sector slipped back into contraction in October added to concerns about global economic strength and encouraged buying of fixed income assets. Finally, the Bank of Japan delivered on Tuesday only a minor tweak to its ultra-loose monetary policy, encouraging the assessment that interest rates in Japan will stay low for longer. With 10-year Treasurys yielding about 390 basis points more than their Japanese peers BX:TMBMKJP-10Y, investors responded to hopes U.S. paper will remain relatively more attractive for an extended period.Markets are pricing in a 98% probability that the Fed will leave interest rates unchanged at a range of 5.
U.S. economic updates set for release on Tuesday include the third-quarter employment cost index, released at 8:30 a.m. Eastern, the August S&P Case-Shiller home price index at 9 a.m., and consumer confidence for October at 10 a.m..
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