Treasury yields climbed slightly higher on Monday morning, with investors gearing up for the Federal Reserve's two-day policy meeting this week.
Julien Lafargue, chief market strategist at Barclays, told CNBC's "Squawk Box Europe" on Monday that the bank broadly agreed with the Fed and the European Central Bank's belief that inflationary pressures were transitory and should "fade away progressively as we move towards the second half of this year."
Lafargue said Barclays expected inflation to be slightly higher going forward, but not to continue to be as high as May's reading. "We might settle in the 2%-3% range for a while, as the recovery takes place, but that would be the upper end of range that we expect to see," he added.Auctions are due to be held on Monday for $57 billion of 13-week bills and $54 billion of 26-week bills.
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