U.S. Treasury yields ease as investors await fresh jobs data, Fed comments

U.S. Treasury yields eased early Tuesday as investors awaited new clues on the state of the U.S. economy. Shortly after 5 a.m. ET, the yield on the benchmark 10-year Treasury note was 2 basis points lower at 4.943%. Yields on the 2-year note were down 1 basis point to 4.741%, while the 30-year Treasury yield fell 2 basis points to 5.272%.One basis point is equal to 0.01%, and yields and prices move in opposite directions.Investors are awaiting weekly employment figures from ADP, due for release at 1:15 p.m. ET. Fed Vice Chair Philip N. Jefferson will deliver remarks at the Federal Reserve Bank of New York's Treasury Market Conference at 10:20 a.m. ET on Tuesday. On Wednesday, Michael S. Barr, a member of the central bank's Board of Governors, will speak at a housing affordability summit in Chicago. It comes 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.""If demand overheats, there is no ambiguity about how the Fed needs to respo...