U.S. Treasury yields were little changed on Monday as investors looked ahead to the Federal Reserve's March meeting, which could provide clues about the outlook for interest rates.
The yield on the 10-year Treasury was up 3 basis points to 4.33%. The 2-year Treasury yield was last more than 1 basis point higher at 4.73%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Treasurys
The Fed is due to meet on Tuesday and Wednesday and will announce its latest interest rate decision and monetary policy guidance at the end of its meeting. Markets are widely expecting the central bank to leave interest rates unchanged.
However, investors are hoping that the central bank will provide clues about its expectations for monetary policy, including when rates may be cut and how many rate cuts will likely take place this year.
This comes after recent inflation data for February came in slightly higher than expected, indicating that pressures from rising prices remain persistent. Fed policymakers have previously said that their decision-making regarding interest rates would be data-dependent and that they were still looking for more evidence that inflation is easing.
Traders were last pricing in a roughly 58% chance of rates being cut in June, slightly lower than earlier in the month, according to CME Group's FedWatch tool.
Also this week, the latest building permit and housing start data is expected and the Bank of England is due to make a decision on interest rates for the U.K.