U.S. government debt prices were slightly lower Tuesday morning as tensions ratcheted up between Washington and Beijing, while states looked to reopen economies amid fears of a second wave of coronavirus infections.

At around 2 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher 0.6540%, and the yield on the 30-year Treasury bond edged up to 1.3041%.

New U.S. factory orders suffered a record decline in March as lockdowns forced by the coronavirus pandemic continued to ravage demand, a further indication of the economic damage from the crisis which has seen 30 million Americans file for unemployment in six weeks.

With risk-on sentiment on Wall Street being buoyed slightly by a number of states setting out to reopen their economies, researchers on Monday escalated mortality predictions and cautioned that the virus could extend through summer due to the removal of restrictions.

Meanwhile, Reuters reported late on Monday that the White House is ramping up an initiative to strip global industrial supply chains from China, as it considers punitive tariffs against Beijing for its handling of the initial coronavirus outbreak.

Investors will also be eyeing on a slew of economic data out of the U.S. on Tuesday. Balance of trade, import and export figures are due at 8:30 a.m. ET, before final IHS Markit PMI (purchasing managers’ index) readings at 9:45 a.m. ISM non-manufacturing PMIs, prices and new orders are set for release at 10 a.m. ET.

Auctions will be held Tuesday for $30 billion of 119-day Treasury bills and $65 billion of 42-day bills.

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