Treasury yields move lower amid talks over new stimulus checks

U.S. government debt prices were higher Tuesday morning as investors waited for details over new fiscal stimulus.

At around 2:40 am ET, the yield on the benchmark 10-year Treasury note dropped to 0.5592% and the yield on the 30-year Treasury bond fell to 1.2374%. Yields move inversely to prices.

U.S. lawmakers have been discussing a new round of fiscal stimulus as the coronavirus pandemic continues to take a toll on the economy. Policymakers in the U.S. Congress seemed to agree that a second round of stimulus checks is needed, but have not yet reached a deal over the details, including on how much dependents should get. 

On the data front, factory orders are due at 10 a.m. ET.

The U.S. Treasury is due to auction $30 billion in 42-day Commercial Mortgage-Backed Securities (CMBS) and another $30 billion in 119-day CMBS on Tuesday.