U.S. Treasury yields rose slightly on Monday as investors awaited new economic data due this week that could provide clues about economic conditions.
As of 5:40 a.m. ET, the 10-year Treasury yield rose less than 1 basis point to 4.2257%. The two-year bond yield recently rose more than 1 basis point to 4.6147%.
Yields and prices move in opposite directions, with 1 basis point equaling 0.01%.
Investors focused on future economic data releases after the US Federal Reserve signaled last week that interest rates may be cut soon, but they acknowledged that this would depend on how the economy develops. Ta.
“We believe our policy rates have probably reached the peak of this tightening cycle,” Fed Chairman Jerome Powell said. “If the economy continues broadly as expected, it would be appropriate to begin tapering policy restraints at some point this year.” Probably.'' Press conference after the recent meeting of the central bank.
“However, the economic outlook remains uncertain and continued progress towards the 2% inflation target is not guaranteed.”
Key economic data released this week could provide investors with insight into the economic outlook. This includes the Federal Reserve's preferred measure of inflation, the Consumer Expenditures Price Index, which will be released on Friday.
However, it won't be clear until next week how the market will react to this data, as bond markets remain closed this week for Good Friday.
Several other data points are also expected, including the latest consumer confidence index, durable goods orders and final fourth-quarter gross domestic product (GDP), as well as statements from Fed officials, including Powell. .
On Monday, February new home sales statistics and final building permit numbers will be released.