U.S. Treasury yields fell on Tuesday as investors looked toward a speech by Federal Reserve Chair Jerome Powell, which could offer more insights about future monetary policy decisions.

The 10-year Treasury fell more than 3 basis points to a one-month low of 4.017%, while the 2-year Treasury yield was almost 5 basis points lower at 3.478%. The longer maturity 30-year Treasury yield fell over one basis point to 4.615%.

One basis point is equal to 0.01% and yields and prices move in opposite directions.

The Fed’s Powell is scheduled to deliver remarks at the NABE annual meeting in Philadelphia later in the day.

Markets are also keeping a close watch on the developments concerning the recently renewed trade tensions between U.S. and China.

“We cannot know when the two sides will negotiate a de-escalation. However, the example from earlier this year shows that neither side is willing to sustain a near complete breakdown in trade which the recent measures imply,” Eastspring Investments wrote in a note published Tuesday.

José Torres, senior economist at Interactive Brokers, noted that sentiment improved after signs the White House is moving toward dialogue with Beijing, despite lingering strain over rare earth export controls, with further talks expected around this week’s IMF and World Bank meetings in Washington.

A ceasefire deal in Gaza, which included the release of hostages, added to the relief, Torres wrote in a note. On Monday,  Palestinian militant group Hamas released the first seven surviving Israeli hostages, marking the first stage of a ceasefire deal brokered with the help of U.S. President Donald Trump.