U.S. Treasury yields were little changed Monday as investors digested the latest inflation data and looked ahead to key economic reports due throughout the week.
At 3:37 p.m. ET, the yield on the 10-year Treasury inched up nearly 2 basis points to 4.187%. The 2-year Treasury yield was trading up by more than 6 basis points at 4.963%.
Yields and prices have an inverted relationship and one basis point equals 0.01%.
Treasurys
Investors weighed the latest inflation figures and what it could mean for Federal Reserve monetary policy as they awaited further economic data.
Friday's producer price index for July had come in at 0.3% on a monthly basis, slightly higher than the 0.2% economists previously surveyed by Dow Jones had expected. That marked the biggest monthly increase since January.
The reading was at odds with other recent inflation indicators, including July's consumer price index, released Thursday, that suggested pressures from rising prices may be easing. Consumer inflation rose by 0.2% on a monthly basis, in line with expectations, and 3.2% from a year ago, which was slightly below the forecast of 3.3%.
Investors have been looking to inflation data for clues about whether the Fed will announce further interest rate increases or pause, or even end, its rate-hiking campaign. The central bank began hiking rates in early 2022 in an effort to ease inflation and cool the economy.
There have been mixed messages from Fed officials about what could be on the horizon for policy and whether rates will go higher. Â
On Monday, investors also looked to data due throughout the week, including July's retail sales figures on Tuesday, and minutes from the Fed's last meeting on Wednesday.