The benchmark 10-year U.S. Treasury yield edged higher on Tuesday as investors await data on the strength of the U.S. economy.
The 10-year Treasury yield rose 2 basis points to 4.215% as of 4:50 a.m. ET, while the 2-year Treasury yield fell 1 basis point to trade at 4.186%.
Yields and prices move in opposite directions, and one basis point is equal to 0.01%.
On the data front, market participants will be eyeing the Labor Department's October job openings and labor turnover survey on Tuesday morning. The report, scheduled to be released at 10 a.m. ET, will provide estimates on the number of job openings, hiring, layoffs and terminations.
Investors will also be watching comments from Fed Governor Adriana Kugler and Chicago Fed President Austan Goolsbee on Tuesday for clues on interest rate policy.
The November jobs report will be released on Friday and is expected to show that the U.S. economy added 214,000 jobs last month, according to economists surveyed by Dow Jones, up from 12,000 jobs in October. According to Dow Jones, the unemployment rate is expected to be 4.2%. This is an increase from 4.1% in the previous month.
The jobs report is important for investors because it will be the last major look at the labor market before the Fed's meeting on Dec. 17 and 18, where the size of interest rate cuts will be decided.
— CNBC's Lisa Kailai Han and Sawdah Bhaimiya contributed to this report.
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