Treasury Yields Flat as Markets Await Fed Data

U.S. Treasury yields remained broadly flat on Tuesday as investors awaited the release of the second-quarter GDP estimate and the Federal Reserve's preferred inflation metric, the personal consumption expenditure reading for July. The 10-year Treasury note traded at 4.647%, while the 2-year and 30-year yields held steady at 4.199% and 5.181%, respectively.

Market participants are focusing on the upcoming Jackson Hole Economic Policy Symposium. Kevin Warsh, Chairman of the Federal Reserve, is scheduled to speak this Friday regarding inflation expectations and monetary policy.

In global commodity markets, oil prices declined as Brent futures fell 2.8% and West Texas Intermediate crude dropped 3%. The decline follows reports that Iran and Oman are nearing an agreement to ensure safe transit through the Strait of Hormuz.