U.S. Treasury yields were little changed Monday to kick off a holiday-shortened week, as investors awaited further clues about the Federal Reserve's monetary policy plans and fretted over the outlook for inflation.
The yield on the benchmark 10-year Treasury was trading around 3.827% at around 4:00 p.m. ET., up about 1 basis point.
The 2-year Treasury yield was last up 5.1 basis points at 4.561%. Yields and prices move in opposite directions and one basis point is worth 0.01%.
Uncertainty about future interest rate hikes continued after Fed speakers last week suggested that a pause to them was not imminent, after economic data suggested to investors that inflation was easing.
Many investors had therefore hoped the Fed would slow or pause rate hikes, as concerns about a recession have spread.
Speaking at the Southern Economic Association over the weekend, Atlanta Fed President Raphael Bostic said rates would likely have to go higher still, but he was prepared to "move away" from implementing 75 basis point rate hikes in favor of smaller ones.
Markets will be closely watching further comments from Fed officials this week. Minutes from the Fed's November meeting will also be published later in the week and could provide further insights.
Investors are also looking to the release of economic data, including durable goods orders and new home sales figures, which are due on Wednesday, for hints about the state of the U.S. economy.
Markets will be closed Thursday.