Bonds

Treasury yields fall as investors look to key economic data

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Traders work on the floor of the New York Stock Exchange, June 14, 2023.
Spencer Platt | Getty Images

The yield on the 10-year Treasury rose Monday as investors awaited the latest comments from U.S. Federal Reserve officials and key inflation data due this week.

At 4:00 p.m. ET, the benchmark yield traded down 4 basis points at 4.008%. The 2-year Treasury yield, meanwhile, declined more than 6 basis points at 4.87%.

Yields and prices move in opposite directions and one basis point equals 0.01%.

Treasurys


The central bank is widely expected to hike rates again at its meeting later this month, even after last week's June jobs report from the Labor Department showed that non-farms payrolls grew slightly less than expected. The report also reflected stronger than anticipated wage growth of 4.4% compared with a year ago.

The Fed kept interest rates unchanged at their most recent meeting, but policymakers have since indicated that rates will likely need to be hiked further to bring inflation closer to their 2% target range. This could mean multiple rate increases are still to come during the four meetings the Fed has left on its schedule for this year.

Several key economic reports that could in inform the Fed's next policy decisions are also expected this week, including June's consumer price index print on Wednesday.