Treasury yields rose Monday in a shortened trading day, as investors considered the outlook for the U.S. economy and the Federal Reserve’s next monetary policy moves.
At 4:13 a.m. ET, the yield on the 10-year Treasury
was up by around two basis points at 3.8467%. The 2-year Treasury
yield was trading over six basis points higher at 4.9442%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
TREASURYS
TICKER | COMPANY | YIELD | CHANGE | %CHANGE |
---|---|---|---|---|
US1M | U.S. 1 Month Treasury | 5.225 | 0.035 | 0 |
US3M | U.S. 3 Month Treasury | 5.368 | 0.045 | 0 |
US6M | U.S. 6 Month Treasury | 5.564 | 0.095 | 0 |
US1Y | U.S. 1 Year Treasury | 5.449 | 0.038 | 0 |
US2Y | U.S. 2 Year Treasury | 4.934 | 0.057 | 0 |
US10Y | U.S. 10 Year Treasury | 3.841 | 0.022 | 0 |
US30Y | U.S. 30 Year Treasury | 3.855 | 0.001 | 0 |
Investors are awaiting a number of economic data points this week, including ISM’s manufacturing purchasing managers’ index for June on Monday. Several key labor market reports and the minutes from the Fed’s last meeting are also due throughout the week. Markets will close early Monday and be closed Tuesday for the Independence Day holiday.
It comes after Fed Chair Jerome Powell said last week that it would take some time before inflation was back in the central bank’s 2% target range.
Powell also reiterated that further interest rate hikes are likely and suggested that they may even be implemented at consecutive policy meetings depending on upcoming data.
On Friday, the latest personal consumption expenditure price index indicated that inflationary pressures could be easing. It rose by 0.3% in May, which was in line with expectations by economists surveyed by Dow Jones, and by 4.6% compared to a year ago, just below the predicted 4.7%.
The Fed is widely expected to hike interest rates at its next meeting later this month.