US Treasurys edge lower ahead of potential rate hike; auctions eyed

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U.S. government debt prices were slightly lower Monday morning as investors eyed a potential interest rate hike later in the trading week.

The yield on the benchmark 10-year Treasury note was higher near 2.607 percent, while the yield on the 30-year Treasury bond was also higher at 3.192 percent.Yields move inversely to prices.


There are no major economic data reports scheduled on Monday.

Investors were focused on the Federal Open Market Committee's meeting, which begins Tuesday. According to the CME Group's FedWatch tool, market expectations for a March rate hike stood at 88.6 percent.

In oil markets, Brent crude traded at around $51.36 a barrel on Monday morning, down 0.01 percent, while U.S. crude was around $48.39 a barrel, down 0.21 percent.

Oil prices slumped to their lowest level in three months on Monday in spite of OPEC and other producers' efforts to curb global oversupply.