U.S. Treasury yields were slightly lower Monday as investors looked ahead to key economic data and fresh comments from Federal Reserve officials that could provide hints about the interest rate outlook.
The yield on the 10-year Treasury was last down more than two basis points at 4.17%. The 2-year Treasury yield nearly three basis points lower at 4.47%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Treasurys
Investors looked ahead to key economic data and remarks from Federal Reserve officials slated for this week as uncertainty about when rate cuts may begin and how many will take place this year has persisted.
January's consumer price index is due Tuesday, before the producer price index, retail sales figures and further data points which are slated for later in the week. Investors are hoping that the data will suggest that the Fed could begin cutting rates sooner rather than later.
This comes as Fed officials in recent weeks have indicated that economic data will play a major role in their decision making when it comes to interest rate cuts and suggested they are unlikely to cut rates in March, which many investors had been hoping for.
This includes Fed Chairman Jerome Powell who earlier this month said the Fed was still looking for more data evidence that inflation is easing toward the Fed's 2% target range.
On Friday, the Labor Department's Bureau of Labor Statistics revised December's consumer price index lower, saying it had risen by 0.2% that month. Initially the CPI reading had come in at 0.3%.