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U.S. government debt yields rose Monday as U.S.-China relations remained chilled after Washington cracked down on Chinese telecommunications giant Huawei and investors awaited minutes from the Federal Reserve's latest meeting.
At around 3:19 p.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.414%, while the yield on the 30-year Treasury bond was also higher at around 2.834%.
Market participants are likely to closely monitor a flurry of speeches from policymakers at the U.S. central bank. Fed Chair Jerome Powell, Philadelphia Fed President Patrick Harker and Vice Chair Richard Clarida are all set to comment on the world's largest economy at separate events on Monday.
The Fed earlier this month said that it would keep interest rates unchanged, though Powell added that officials saw a decline in inflation in the first quarter as simply "transcient"
"We think our policy stance is appropriate at the moment and we don't see a strong case for moving in either direction," Powell said on May 1. "We say in our statement of longer-run goals and monetary policy strategy that the Committee would be concerned if inflation were running persistently above or below 2%."
"And in this case, as we look at these readings in the first quarter for core, we do see good reasons to think that some were or all of the unexpected decrease may wind up being transient," he added.