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Treasury Yields Turn Slightly Higher After Better-Than-Expected Retail Data

Source: NYSE

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.

CNBC's Pippa Stevens contributed to this market report.

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