TREASURIES-US yields dip as market in consolidation mode, track UK, Canada

U.S. Treasury yields fell on Tuesday in a holiday-shortened week as investors consolidated positions following last week's gains on the long end of the curve in the wake of stronger-than-expected inflation data. Investors are looking to Wednesday's minutes of the January Federal Open Market Committee meeting for more clues on the U.S. interest rate outlook. UK two-year and 10-year gilt yields fell after Bank of England Governor Andrew Bailey said on Tuesday he was comfortable with investors betting on interest rate cuts this year.