U.S. Treasury yields advanced Monday as investors considered the state of the economy after the latest data release and commentary from Federal Reserve chair Jerome Powell.
The yield on the 10-year Treasury added more than 3 basis points to 3.787%. The 2-year Treasury yield was last at 3.637% after rising more than 7 basis points.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Powell said Monday that further rate cuts could lie ahead, but that the central bank was not on a predetermined path.
“Looking forward, if the economy evolves broadly as expected, policy will move over time toward a more neutral stance. But we are not on any preset course,” he told the National Association for Business Economics in prepared remarks. “The risks are two-sided, and we will continue to make our decisions meeting by meeting.”
“This is not a committee that feels like it’s in a hurry to cut rates quickly,” Powell…
