US Treasury yields rise ahead of key Fed remarks
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The U.S. Treasury is due to auction $51 billion in 13-week bills, $45 billion in 26-week bills and $30 billion in two-year notes.
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Investors are likely to be eyeing the subject of a potential trade war over the coming days to see if trade tensions ease or become more aggravated between the U.S. and nations involved.
U.S. government debt prices were lower on Monday.
The yield on the benchmark 10-year Treasury note was higher at around 2.846 percent at 4:55 a.m. ET, while the yield on the 30-year Treasury bond was higher at 3.093 percent. Bond yields move inversely to prices.
At the start of a brand-new trading week, bond investors will be turning their attention to the U.S. Federal Reserve, as a number of members are due to speak.
In Atlanta, Fed Vice Chair Randal Quarles is expected to attend the HOPE Global Forum annual meeting, while New York Fed President Bill Dudley will be in Washington, DC., where he is expected to be present at the U.S. Chamber of Commerce discussing financial regulation and its future.
In New Jersey, Cleveland Fed President Loretta Mester is due to speak on "The Economic Outlook, Monetary Policy, and Some Future Policy Considerations" at an event in Princeton.
On the data front, traders will be awaiting the Dallas Fed's Texas Manufacturing Outlook survey, which is due out at 10:30 a.m. ET.
Meanwhile, the U.S. Treasury is due to auction $51 billion in 13-week bills, $45 billion in 26-week bills and $30 billion in two-year notes. The size of a four-week bills auction, due to take place Tuesday, will also be announced.
Elsewhere, trade concerns will remain a key topic of interest. This comes after President Donald Trump signed an executive memorandum last week that would inflict tariffs on Chinese imports — of up to $60 billion . China retaliated, with their own set of levies, drawing up a list of 128 U.S. products that could be possible retaliation targets.
Investors are likely to be eyeing the subject over the coming days to see if trade tensions ease or become more aggravated between the U.S. and other nations involved.
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