U.S. Treasury yields fell slightly Monday morning, but ten-year highs remained above 1.6%, ahead of the Federal Reserve meeting later this week.
The yield on the 10-year reference cash note fell to 1.621% at 4 a.m. ET. The yield on the 30-year Treasury bond fell to 2.375%. Yields are reversed to prices.
The Federal Open Markets Committee is scheduled to meet on March 16 and 17. The Fed predicts better economic growth, following the signing of the $ 1.9 trillion coronavirus tax relief package last week.
Bond investors will also be watching to see if the Fed changes its interest rate outlook, and its rate decision is due to be announced Wednesday after the FOMC meeting.
On Monday, New York’s March Empire State Manufacturing Index is due to be released at 7:30 am ET.
Data showing foreign investment flows to U.S. treasuries in January is expected at 3 p.m. ET.
Auctions for $ 57 billion in 13-week bills and $ 54 billion in 26 weeks will be held on Monday.
– CNG’s Maggie Fitzgerald contributed to this report.