U.S. Treasury yields were little changed Monday as traders pored through fresh commentary that could lead to clues on when the Federal Reserve may start cutting rates.
The yield on the 10-year Treasury was down a little more than 1 basis point at 4.489%, while the 2-year Treasury yield added nearly 3 basis points to 4.835%. Yields and prices move in opposite directions. One basis point equals 1/100th of a percent, or 0.01%.
Richmond Fed President Tom Barkin on Monday said that policymakers have time to gain greater confidence that inflation is moving towards the central bank’s 2% target, particularly given the strength in the labor market.
Separately, a New York Federal Reserve survey released Monday showed the share of renters who believe that they one day will be able to afford a home fell to a record low 13.4%. Respondents expected rental costs to increase 9.7% over the next year.
The report and Barkin’s comments came after a…
