U.S. Treasury yields slid on Tuesday as markets reopened after the holiday, buoyed by optimism surrounding U.S.-EU trade talks.
The 30-year Treasury yield fell about 9 basis points to 4.943%. The 10-year Treasury shed around 7 basis points to 4.44%. The 2-year yield was less than 1 basis point lower at 3.979%.
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WATCH HEREOne basis point is equivalent to 0.01%, and yields move inversely to prices.
President Donald Trump announced over the weekend that he would postpone a planned 50% tariff on the European Union until July 9, following a request from European Commission President Ursula von der Leyen. The import duty was initially set to take effect on June 1.
Tuesday's bond market moves come on the heels of a volatile few days before Memorial Day. Last week saw a global bond rout sparked by renewed fiscal anxieties following Moody's downgrade of U.S. credit rating and concerns surrounding Trump's tax bill.
Investors are also looking toward the Federal Reserve's minutes from its May 6-7 meeting, which will be published on Wednesday. Among the other data points due this week is April's core personal consumption expenditures price index on Friday.
In the meantime, traders monitored better-than-expected consumer confidence data released on Tuesday.
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