T-yields unchanged as investors digest latest economic data

The yield on the benchmark 10-year Treasury note was little changed at 3.2%. Meanwhile, the yield on the 30-year Treasury bond gained just over 1 basis point to trade at 3.313%. Yields move inversely to prices.

Traders and investors have become increasingly concerned about the anticipated recession in recent weeks as the Fed strives to cool hot inflation with aggressive interest rate hikes.

Data-wise, the S&P CoreLogic Case-Shiller national home prices index showed a 20.4% year-over-year jump through April. April 2022 showed initial signs of a deceleration in the growth rate of US home prices.

Markets continue to observe very broad strength in the housing market, as all 20 cities notched double-digit price increases for the 12 months ended in April. The consumer confidence index for June came in at 98.7, missing forecast of 101.