U.S. government bond yields held steady on Tuesday, with the 10-year government bond yield, a key benchmark for mortgages, auto loans, and credit card debt, flat at 4.7021%. The longer-dated 30-year government bond yield also remained unchanged at 5.2297%; the 2-year government bond yield, which typically moves in tandem with the Federal Reserve's short-term interest rate decisions, was stable at 4.2421%.

Investors are awaiting more economic data releases for further insight into the U.S. economy. Later this week, July Personal Consumption Expenditures (PCE) data and Q2 GDP estimates will be released, and Federal Reserve Chairman Kevin Warsh will deliver a keynote speech at the Jackson Hole annual symposium on Friday. Additionally, ADP employment change and U.S. new home sales data will be released later on Tuesday.