US 10-year and 30-year Treasury yields began the week with a slight decline on Monday morning.
Benchmark yield 10-year government bond At 3:50 am ET fell below the basis point to 1.336%.Yield 30-year government bond I gave up one basis point and dropped to 1.922%. Yield is inversely proportional to price, and one basis point is equivalent to 0.01%.
Treasury yields rose on Friday after August’s producer price index, one indicator of inflation, rose 0.7% against its 0.6% forecast.
Investors will look at the August Consumer Price Index, a more direct indicator of inflation scheduled to be released at 8:30 EST. on Tuesday. Economists surveyed by FactSet expect reading to show that consumer prices have skyrocketed 5.3% at an annual pace In August.
Inflation, along with employment data, is one economic indicator monitored by the Federal Reserve to determine the timeline for monetary tightening. The Federal Reserve Board of Governors will begin its next two-day policy meeting on September 21st.
Charlie Parker, Managing Director of Albemarle Street Partners, said CNBC’s “Squaw box europe“On Monday, he believed,” Entering the September meeting, the first tapering signal was pushed back a bit in November, which could trigger a slightly better market. “
There are no major economic data releases scheduled for Monday.
The auction will be held for $ 48 billion of 13-week invoices and $ 45 billion of 26-week invoices.
— — CNBC’s Pippa Stevens contributed to this report.
Treasury yields drop slightly to start the week
Source link Treasury yields drop slightly to start the week