The key 10-year U.S. Treasury yield was dipped slightly on Monday ahead of the release of April’s manufacturing Purchasing Managers’ Index (PMI) and amid a rise in small business confidence.
The yield on the benchmark 10-year Treasury note fell by 0.31% to 1.625% around 3 a.m. ET. The yield on the 30-year Treasury bond was roughly flat 2.298%. Yields move inversely to prices.
Small business owners are feeling more confident, according to a CNBC/SurveyMonkey survey, with sentiment increasing to 45 from a record low of 43 in the first quarter.
The ISM Manufacturing Index for April is also due Monday, measuring manufacturing activity via a survey of more than 300 manufacturing company purchasing managers conducted every month by the Institute for Supply Management. Construction spending figures for March are also due.
The 10-year Treasury yield had already edged lower on Friday following consumer spending data that showed significant jumps in personal income and spending, as well as a rise in prices.
There are no auctions due to be held Monday.
