U.S. Treasury yields were lower early Monday, with the release of Federal Reserve meeting minutes and the closely watched central bank symposium at Jackson Hole on the agenda this week.
The yield on the 10-year Treasury was nearly 3 basis points lower at 3.864% at 2:40 a.m. ET. The 2-year Treasury yield also dropped 3 basis points to 4.038%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Investors are still digesting last week’s release of U.S. retail sales figures for July and weekly initial jobless claims, which were both better than expected. The figures helped ease recent concerns about the health of the U.S. economy, boosting global stock markets.
Markets continue to fully price in a Fed rate cut in September, though they have slashed the odds of a 50 basis point reduction to just 28.5%, according to CME’s FedWatch tool.
On the cards in the coming days are the release of minutes from the Fed’s July…
