Bond yields fell on Tuesday after energy prices moved lower in early trade, as investors look ahead to key economic data releases this week, including the latest U.S. inflation print.

The 10-year Treasury note yield — the main benchmark for mortgages, auto loans, and credit card debt — fell more than 5 basis points to 5.1937%.

The yield on longer-dated 30-year U.S. Treasurys — which tend to move on geopolitical events — was down 4 basis points at 5.5580%.

The yield on the 2-year Treasury note, which more closely follows short-term Federal Reserve rate decisions, fell more than 2 basis points to 4.7658%.

One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely.

U.S. Treasury markets reopened for trade Tuesday after closing Monday for the Columbus Day holiday.

The slide in borrowing costs follows a sharp fall in oil prices Tuesday, as investors continue to gauge the prospect of more Russian diesel entering global energy markets following the U.S.-brokered so-called 'energy ceasefire' between Russia and Ukraine.

West Texas Intermediate futures for November delivery were 1.49% lower at $92.34 a barrel by 3:50 a.m. E.T.

Investors are gearing up for a flurry of domestic economic data releases this week, which will offer clearer insights into the U.S. inflation picture and interest rate trajectory.

September's annual inflation rate — due out Wednesday — is expected to come in at 3.7%, according to consensus forecasts, up from August's 3.4% print. Consumer prices, which exclude food and energy, are expected to rise to 2.5% from 2.4% in August on an annualized basis.

The inflation data will be followed on Thursday by September's monthly producer price index and retail sales data.