10-year Treasury yield climbs slightly, remains above 1.6% ahead of Fed meeting - CNBC

The 10-year U.S. Treasury yield climbed slightly, remaining above 1.6% on Tuesday morning, ahead of the Federal Reserve's first policy meeting later in the day.

The yield on the benchmark 10-year Treasury note rose to 1.607% at 5 a.m. ET. The yield on the 30-year Treasury bond fell to 2.357%. Yields move inversely to prices.

Treasurys

Investors will be paying close attention to the Fed meetings, to see if the U.S. central bank tweaks its interest rate outlook or signals how soon it might pare back of its bond buying program.

Fed Chairman Jerome Powell will hold a press briefing after the second meeting on Wednesday afternoon.

Meanwhile, retail sales data for February is due out at 8:30 a.m. ET, along with import and export prices for that month. Industrial production data for February is then expected out at 9:15 a.m. ET, followed by business inventories data for January at 10 a.m. ET.

March's NAHB Housing Market index is set to come out at 10 a.m. ET.

Auctions will be held Tuesday for $35 billion of 42-day bonds and $24 billion of 19-year 11-month bonds.

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