U.S. government debt prices were lower Tuesday morning, as investors flocked to safer assets amid rapidly intensifying tensions between the world's two largest economies.
It comes after the U.S. 10-year Treasury yield, which influences mortgages and other loans, fell to 1.735% in the previous session — its lowest level since November 2016.
The U.S. Treasury officially designated China as a "currency manipulator" on Monday, following a sharp fall in the value of the Chinese yuan against the dollar.Late last week, China vowed to retaliate after President Donald Trump threatened to impose a 10% tariff on $300 billion worth of Chinese imports.A protracted trade dispute between the U.S. and China has now dragged on for more than a year.
On the data front, the latest monthly Job Openings and Labor Turnover Survey will be released at around 10 a.m. ET.
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