treasury yields were mildly firmer on tuesday with trading notably calmer as investors welcomed the uk government’s budget uturn yields were nudging higher after the bank of england disputed reports it would further delay its quantitative tightening program the yield on the 30year uk gilt tmbmkgb30y  an important bond to judge the health of the country’s embattled pension fund system rose 7 basis points to 444 after the boe challenged an ft story that it would not sell bonds as planned in order to encourage market stability however moves in treasuries were relatively meager after a budget uturn by the uk government over recent days soothed markets that had been badly rattled by fears of broader stress in the fixed income sector “the new sense of calm emanating from the uk has helped spread ripples of optimism across global markets…as concerns about contagion from a bond market meltdown abate” wrote susannah streeter” senior investment and markets analyst at hargreaves lansdown jan nevruzi strategist at natwest markets said recent moves in bonds of late reflected a more upbeat tone across broader markets “perhaps it was fixed income that needed to ‘realign’ with the moves in risk assets since equities held onto their large rally and the usd remained weak against most peers even though the traditional riskonriskoff relationship between bonds and equities has been weak lately today’s bear steepening could be interpreted as catching up to equities and fx” he wrote in a note to clients september industrial production and capacity utilization rate data are due at 915 am eastern tme the nahb home builders index for october will be published at 10 am there will be more talk from federal reserve officials too atlanta fed president raphael bostic is due to speak at 2 pm and minneapolis fed president neel kashkari will deliver remarks at 530 pm markets are pricing in a 985 probability that the fed will raise interest rates by another 75 basis points to a range of 375 to 400 after its meeting on november 2nd the central bank is expected to take its fed funds rate target to 495 by april 2023 according to the cme fedwatch tool