U.S. Treasury yields eked higher on Monday, with investor attention focused on the Federal Reserve two-day monetary policy meeting this week.
The yield on the benchmark 10-year Treasury note rose less than a basis point to 1.291% at 4:00 p.m. ET. The yield on the 30-year Treasury bond rose 1.6 basis points to 1.94%. Yields move inversely to prices.
The Federal Open Market Committee’s two-day meeting is due to begin on Tuesday, with a policy statement issued on Wednesday afternoon.
The U.S. Department of Housing and Urban Development released new home sales data Monday for the month of June, which were weaker by 6.6% compared to the initially estimated 3% increase. The data suggests the housing market lost momentum amid soaring prices driven by a shortage of properties.
Auctions were held on Monday for $54 billion of 13-week bills, $51 billion of 26-week bills and $60 billion of 2-year notes.
— CNBC’s Tanaya Macheel contributed to this market report.
