U.S. Treasury yields rose on Monday morning, as investors focused on who will be named chair of the Federal Reserve.
advanced by less than a basis point to 1.9107%. Yields move inversely to prices and 1 basis point is equal to 0.01%.President Joe Biden is due to announce his pick for Federal Reserve chair in the coming days, with current chairman Jerome Powell and Governor Lael Brainard considered the most likely candidates.
" on Monday that he thought most people expected Powell and Brainard's approach to monetary policy to be "pretty similar."
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