The 10-year Treasury yield rose Monday as investors looked to remarks from Federal Reserve officials for hints about what to expect from the economy and central bank policy.
At 6:07 a.m. ET, the yield on the 10-year Treasury was up by 2 basis points to 3.483%. Meanwhile, the 2-year Treasury was almost flat at 4.006%.
Yields and prices move in opposite directions and one basis point is equivalent to 0.01%.
Investors weighed the outlook for the economy and interest rate policy as they awaited fresh comments from Federal Reserve officials. A series of officials, including Atlanta Fed President Raphael Bostic, Minneapolis Fed President Neel Kashkari, Richmond Fed President Tom Barkin and Fed Governor Lisa Cook are slated to speak Monday.
At an event at the Hoover Institution on Friday, Fed Governor Philip Jefferson said he believed inflation remains too high and progress in bringing it back to the 2% target range is still limited. At the same event, St. Louis Fed President James Bullard said there was a good chance that disinflation will continue.
That comes as the latest inflation data, published last week, indicated that pressures from rising prices may be easing. Earlier this month, Fed Chairman Jerome Powell had indicated that, depending on data readings, interest rate hikes could be halted soon.
Investors have become concerned about the impact that elevated interest rates will have on the U.S. economy, with many fearing a recession. Fresh economic data expected this week could provide new clues about the economic outlook.
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