Treasuries saw an uptick in performance on Tuesday, with bond prices rising as the day progressed. The yield on the benchmark ten-year note fell by 2.3 basis points to 4.120 percent. This increase was attributed to remarks made by Federal Reserve Chair Jerome Powell regarding the labor market, citing rising downside risks to employment and near-term inflation risks tilted to the upside. Powell also mentioned the challenging situation of balancing inflation and employment goals, cautioning against easing too aggressively. Additionally, Powell noted that equity prices are currently “fairly highly valued.” Trading activity may be subdued ahead of the new home sales report on Wednesday.

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