U.S. Treasury yields turned slightly higher on Tuesday following a series of economic data released in the morning, including better-than-expected retail data.
The yield on the benchmark 10-year Treasury note rose 1.8 basis points, to 1.639% at 4:09 p.m. ET. The yield on the 30-year Treasury bond added 1.9 basis points to 2.026%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
The moves come after retail sales figures for October came in 1.7% higher, compared to 0.7% up in September, The Census Bureau reported Tuesday. Economists surveyed by Dow Jones expected sales to have jumped by 1.5%.
Homebuilder confidence rose 3 points to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Analysts expected it to remain unchanged at 80.
The moves in yields come after the 10-year yield hit 1.62% on Monday, amid mounting concerns about inflation.
An auction was held on Tuesday for $60 billion of 14-day bills.
Money Report
— CNBC's Pippa Stevens contributed to this market report.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly Chicago Catch-Up newsletter here.