Fresh economic data attracts investors, causing treasury yields to decrease.

On Tuesday, U.S. Treasury yields were lower due to investors anticipating new economic data and considering the remarks of Federal Reserve Chairman Jerome Powell.

At 6:40 a.m. ET, the yield on the was 3.741%, which was over 6 basis points lower than its previous high of 3.615%.

Prices and yields move in opposite directions, with one basis point equal to 0.01%.

Investors considered the outlook for interest rates as they digested comments from Powell.

If economic data remains consistent, two smaller, 25-basis-point rate cuts could occur this year, according to Powell. However, the recent 50-basis-point cut from the Fed should not be interpreted as a signal that the central bank will continue to cut rates aggressively.

He stated that this committee does not appear to be in a rush to lower rates promptly.

Powell stated that the Fed was not following a predetermined course and that policy decisions would be made on a meeting-by-meeting basis.

This week, more Fed policymakers will give remarks, and investors will closely monitor both their comments and the latest data releases.

On Tuesday, the S&P Global U.S. Manufacturing Purchasing Managers' Index, the ISM Manufacturing PMI, and the U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover Survey for August will all be released.

In the coming week, additional labor market data will be released, including ADP's private payrolls report and the U.S. September jobs report, which encompasses nonfarm payrolls and the unemployment rate.