10-year Treasury yield holds near 16-year highs ahead of midweek Fed decision

Yields are slightly higher as investors absorb recent stronger-than-expected economic data and eye the Federal Reserve's decision in two days.

Treasury yields rose on Monday as investors absorbed recent stronger-than-expected economic data and looked ahead to the Federal Reserve’s policy decision in two days.

Traders will be keen to see to what degree these developments are impacting Federal Reserve thinking when the central bank concludes its policy meeting on Wednesday, and Chairman Jerome Powell holds a press conference shortly after. In U.S. economic updates on Monday, a home builders’ sentiment index fell in September to below breakeven level.

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