U.S. Treasury yields pulled back on Tuesday as investors awaited comments from Fed officials that could provide fresh hints about the outlook for the economy.
Fed speakers including Chairman Jerome Powell are due to make remarks on Tuesday. Investors will be scanning the comments for clues about what central bankers expect from the economy, especially in relation to inflation easing and a looming recession., but also indicated that the central bank would continue its efforts to cool the economy and ease inflationary pressures.
That could include further interest rate hikes, which the Fed has implemented at each of its last eight meetings. Many investors are concerned about whether the rate increases have gone too high, too quickly and will therefore drag the U.S. economy into a recession.On the data front, investors will be following the release of December's balance of trade report on Tuesday, and corporate earnings season continues.
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