U.S. Treasury yields slipped Monday as investors awaited economic data that could affect the Federal Reserve's monetary policy.
The yield on the 10-year Treasury was nearly 10 basis points lower at 4.385%. The yield on the 2-year Treasury was down by roughly 7 basis points at 4.886%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Treasurys
Investors this week will be carefully scanning the data for hints about the state of the economy and whether it is cooling as interest rates remain elevated. That comes as markets are broadly expecting the Fed to be done hiking but are uncertain about when rates may be cut.
Fed policymakers have so far given little indication about how long rates will remain elevated for. Several central bank officials, including Chairman Jerome Powell, are due to make remarks this week.
One Fed policy meeting remains on the schedule this year, and investors are hoping to gain some clarity on the outlook for interest rates then. Minutes from the Fed's last meeting were released last week and suggested possible rate cuts had not been discussed.
The consumer confidence report is due Tuesday. The October personal consumption expenditures price index, due on Thursday, is the central bank's preferred inflation gauge and could indicate whether pressures from higher prices are easing.
Data released Monday showed new homes sold at a slower than expected pace in October while still showing improvement from a year ago, according to data from the Commerce Department.