U.S. Treasury yields rose slightly on Monday ahead of the Federal Reserve’s policy meeting and inflation data, due out later in the week.
The yield on the benchmark 10-year Treasury note rose 4 basis points to 1.6%. The yield on the 30-year Treasury bond climbed 3 basis points to 2.27%. Yields move inversely to prices.
The Fed will meet on Tuesday and Wednesday, with investors watching for any indications on the future direction of the central bank’s policy. Fed Chairman Jerome Powell will host a press conference Wednesday afternoon to discuss the Federal Open Market Committee’s decision.
The March personal consumption expenditures index, one measure of inflation, is then expected to come out Friday.
On Monday, the number of durable goods ordered in March is set to come out at 8:30 a.m. ET.
Auctions will be held Monday for $57 billion of 13-week bills, $54 billion of 26-week bills, $60 billion of 2-year notes and $61 billion of 5-year notes.
