U.S. 10-year Treasury yields rose more than 4.11% on Monday as investors awaited a speech from Federal Reserve policymakers.
The yield on 10-year government bonds rose by about 5 basis points to 4.128%. The yield on two-year government bonds rose by about 3 basis points to 3.987%.
Yields and prices move in opposite directions. 1 basis point is 0.01%.
On days when major economic data are not released, market participants are likely to closely scrutinize comments from U.S. central bank officials.
Dallas Fed President Rory Logan, Minneapolis Fed President Neel Kashkari, Kansas City Fed President Jeff Schmid and San Francisco Fed President Mary Daly are expected to speak Monday as investors await clues about the Fed’s monetary policy outlook. It is expected.
Federal Reserve President Christopher Waller said last week that future interest rate cuts would be less aggressive than September’s large rate cut, expressing concern that the U.S. economy may still be running faster than desired.
“We don’t want to overreact or dig into this data, but the overall data suggests that monetary policy should be more cautious about the pace of rate cuts than was necessary at the September meeting,” Waller said. He said. October 14, citing recent reports on employment, inflation, gross domestic product (GDP) and income.
Last month, the Federal Open Market Committee took the unusual step of lowering the benchmark interest rate by 0.5 percentage points (50 basis points) to the target range of 4.75 to 5 percent.
— CNBC’s Jeff Cox contributed to this report.
