U.S. Treasury yields rose Monday as investors mulled the Federal Reserve's next interest rate decision and considered the outlook for the broader economy.
The on the benchmark 10-year Treasury was up by about 4 basis points at 3.523%. The 2-year Treasury yield traded about 5 basis points higher to 4.236%.
Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.
Investors weighed future monetary policy decisions as uncertainty over whether the Fed would hike interest rates by 25 or 50 basis points at its next meeting continued.
Fed speakers have recently hinted at a potential slowdown in rate increases to 25 basis points, with Fed Governor Christopher Waller saying outright Friday that he would favor a smaller hike.
Many investors are hoping for the central bank to slow, or completely pause, rate hikes this year. The pace of rate increases announced by the Fed in its battle against high inflation has sparked concerns about a possible recession.
As the week kicks off, investors are closely watching a busy earnings week and the personal consumption expenditure price index on Friday.
PCE, known as the Fed's favored inflation gauge, could heavily influence the central bank's next policy move.