US yields pare declines afer inflation data

U.S. Treasury yields pared declines on Tuesday after data showed inflation in the world's largest economy increased in June, suggesting that the Federal Reserve will likely take its time before it resumes cutting interest rates this year.

The benchmark 10-year yield was flat at 4.425% US10Y, compared with 4.413% before the data. U.S. two-year yields, which track interest rate expectations, turned positive to 3.910% (US2YT=RR), up 1.4 basis points. The yield was lower before the inflation data release.