U.S. government debt prices rose on Tuesday as investors took cover in safe-haven assets amid geopolitical tensions around Saudi Arabia.
At around, 05:20 a.m. ET, the yield on the benchmark 10-year Treasury note slipped to 3.154 percent, while the yield on the 30-year Treasury bond fell to 3.346 percent. Bond yields move inversely to prices.
The Treasury yields climbed last week amid fears that the Federal Reserve may be hiking interest rates too high, too fast. Minutes released by the U.S. central bank last week from its most recent meeting showed the Fed's continued hawkish view on rates. President Donald Trump has criticized the Fed over its monetary policy stance, going as far as to call the institution "crazy."
But on Tuesday, yields extended losses seen in the previous session, as traders turned their focus to rising political worries surrounding the unexplained death of Saudi journalist Jamal Khashoggi at the Saudi consulate in Istanbul on Oct 2, as well as the latest corporate earnings season.
Separately, various Fed members are due to speak on Tuesday. At 09:30 a.m. ET, Minneapolis Fed President Neel Kashkari is due to speak, followed by Atlanta Fed President Raphael Bostic at 1:30 p.m. ET, Chicago Fed President Charles Evans at 6:15 p.m. ET and Kansas City Fed President Esther George at 8 p.m. ET are scheduled to speak Tuesday.
On the data front, the U.S. Redbook is expected at 8:55 a.m. ET and the Richmond Fed is expected to release manufacturing index data at 10 a.m. ET.
And in auction news, $40 billion in 4-week bills and $25 billion in in 8-week bills will be auctioned on Tuesday.
