U.S. Treasury yields were lower on Monday as investors awaited key economic data slated for the week and markets considered the latest U.S. political developments.
At 3:21 a.m. ET, the yield on the 10-year Treasury was down by over three basis points to 4.2077%. The 2-year Treasury yield was last less than one basis point lower to 4.5043%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Investors looked ahead to key data due this week that is set to provide fresh hints about the state of the economy and could inform the Federal Reserve’s decision-making when it comes to monetary policy.
That includes a reading of the second-quarter gross domestic product on Thursday as well as the latest personal consumption expenditures price index on Friday. The latter is the Fed’s preferred inflation gauge and could provide an indication of the timeline for interest rate cuts.
Fed officials have in recent weeks continued…
