The 10-year U.S. Treasury yield rose above 4.11% on Monday as investors awaited a flurry of speeches from Federal Reserve policymakers.
The yield on the 10-year Treasury note rose about 5 basis points to 4.128%. The two-year Treasury yield rose about 3 basis points to 3.987%.
Yields and prices move in opposite directions. One basis point is equal to 0.01%.
On a day without major economic data releases, market participants are likely to closely scrutinize comments from Federal Reserve officials.
Dallas Fed President Lorie Logan, Minneapolis Fed President Neel Kashkari, Kansas City Fed President Jeff Schmid and San Francisco Fed President Mary Daly are expected to make their remarks on Monday Commenting as investors await guidance on the Fed's monetary policy outlook.
Fed Governor Christopher Waller said last week that future rate cuts would be less aggressive than the jumbo rate cut in September, expressing some concern that the U.S. economy could still run faster than desired.
“While we do not want to overreact to or sift through this data, I view the totality of the data as an indication that monetary policy should be more cautious in the pace of rate cuts than was required at the September meeting,” Waller said on 14. Oct., citing recent reports on employment, inflation, gross domestic product and income.
The Federal Open Market Committee took the unusual step last month of cutting its base interest rate by half a percentage point, or 50 basis points, to a target range of 4.75% to 5%.
—CNBC's Jeff Cox contributed to this report.
Comments are closed.