US Treasurys edge lower; Federal Reserve eyed

Traders in the 10-year bond options pit at the Chicago Board of Trade signal orders.
Frank Polich | Reuters

U.S. government debt prices were lower on Monday as investors focused on comments from the U.S. Federal Reserve later in the week.

The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was higher at around 2.432 percent, while the yield on the 30-year Treasury bond was also higher at 3.028 percent.

Fed Chair Janet Yellen will appear before the new Republican Congress for the first time on Tuesday. Investors will be keeping a close eye on the hearing for any hints of a March rate hike and the potential impact of U.S. President Donald Trump on the Fed's economic outlook.

There are no major economic data releases scheduled on Monday.


In oil markets, prices were slightly lower on Monday after bloated inventories appeared to concern investors, however, losses were limited after encouraging signs that OPEC and other exporters would be able to adhere to their landmark deal and reduce global oversupply.

Brent crude traded at around $55.58 a barrel on Monday, down 1.98 percent, while U.S. crude was around $52.90 a barrel, down 1.78 percent.