U.S. Treasury yields climbed on Monday as investors awaited further clues about the Federal Reserve’s monetary policy plans from central bank speakers.
U.S. Treasury yields climbed on Monday as investors awaited further clues about the Federal Reserve's monetary policy plans from central bank speakers and fretted over the outlook for inflation.was trading around 3.84% at around 4:40 a.m. ET, after rising by over two basis points.yield was last up by around three basis points to 4.5416%. 2-year Treasury notes worth a total of $42 billion are due to be auctioned on Monday.
Many investors had therefore hoped the Fed would slow or pause rate hikes, as concerns about a recession have spread. Speaking at the Southern Economic Association over the weekend, Atlanta Fed President Raphael Bostic said rates would likely have to go higher still, but he was prepared to "move away" from implementing 75 basis point rate hikes in favor of smaller ones.
Markets will be closely watching further comments from Fed officials this week. Minutes from the Fed's November meeting will also be published later in the week and could provide further insights. Investors are also looking to the release of economic data, including durable goods orders and new home sales figures, which are due on Wednesday, for hints about the state of the U.S. economy.
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