US Treasury yields rise as Turkey’s financial woes continue

KEY POINTS

• Global markets continue to slip after Turkey's financial troubles sparked fear of contagion and the country's lira currency took a deep slide.
• The U.S. Treasury is scheduled to auction $51 billion in 13-week bills and $45 billion in 26-week bills.

U.S. government debt yields rose on the first trading day of the week as financial concerns surrounding the stability of Turkey's currency worsened.

The yield on the benchmark 10-year Treasury note was higher at around 2.875 percent at 2:48 p.m. ET, while the yield on the 30-year Treasury bond was in the black at 3.044 percent. Bond yields move inversely to prices.

Treasurys

TICKER	COMPANY	YIELD	CHANGE
US1M	U.S. 1 Month Treasury	5.378%	+0.025
US3M	U.S. 3 Month Treasury	5.415%	+0.02
US6M	U.S. 6 Month Treasury	5.414%	+0.032
US1Y	U.S. 1 Year Treasury	5.211%	+0.046
US2Y	U.S. 2 Year Treasury	4.873%	-0.005
US10Y	U.S. 10 Year Treasury	4.428%	-0.006
US30Y	U.S. 30 Year Treasury	4.545%	-0.005

Global markets continue to see red, after Turkey's financial troubles sparked fear of contagion and the country's lira currency took a deep slide. On Friday, the lira temporarily tumbled 20 percent against the U.S. dollar, after President Donald Trump said he supported doubling metal tariffs on Ankara.

While the lira pared some losses over the weekend — after the Turkish central bank moved to improve liquidity and while Turkey's finance minister said the government had outlined an action plan to alleviate concerns — it still lost more than 45 percent of its value during this year alone, according to Reuters.

Elsewhere, concerns over the U.S.' future relations with major economies including China will remain in focus, as trade war tensions continue to escalate.

Little economic data is due Monday. The U.S. Treasury is scheduled to auction $51 billion in 13-week bills and $45 billion in 26-week bills. The size of a four-week bill, due to be auctioned Tuesday, will also be announced.