U.S. Treasury yields continued their push higher on Monday, as investors monitored economic data and monetary policy on the first trading day of May.
The yield on the benchmark 10-year Treasury note rose 5 basis points to 2.9416% by around 2:20 a.m. ET. The yield on the 30-year Treasury bond added 5 basis points to 3.0026%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
The 10-year yield rose more than 25% in April.
Treasurys
Investors are looking ahead to Wednesday, when the Federal Open Market Committee will issue a statement on monetary policy. The decision will be released at 2 p.m. ET, with Federal Reserve Chairman Jerome Powell holding a press conference at 2:30 p.m.
A hot inflation report Friday underscored the difficult macro environment. The core personal consumption expenditures price index — the Fed’s preferred inflation gauge — rose 5.2% from a year ago.
On the data front Monday, an April flash manufacturing PMI is set to be released at 9:45 a.m. ET, an ISM Manufacturing reading is due at 10 a.m. ET alongside a construction spending index.
—CNBC’s Pippa Stevens and Hannah Miao contributed to this article.
