Treasury yields were little changed on Monday as investors looked to economic data in the week ahead that could provide fresh hints about the state of the economy and the outlook for interest rates.
The yield on the 10-year was about flat, last trading at 4.615%. The 2-year Treasury yield was last higher by less than one basis point at 4.971%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Investors awaited fresh economic data as uncertainty about the outlook for the U.S. economy and Federal Reserve monetary policy persisted.
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Several key data points are slated for later this week, including the personal consumption expenditures price index for March, which is due Friday. The PCE is the Fed's favored inflation gauge and could inform policymakers' thinking on interest rates ahead of the next central bank meeting on April 30-May 1.
Durable goods orders and a reading of the gross domestic product for the first quarter of 2024 are among the other key releases due throughout the week.
Markets have pushed out their expectations for when the Fed will start lowering rates, following recent economic data that reflected sticky inflation and resilience from the economy, as well as comments from central bank officials.
Money Report
Policymakers including Chairman Jerome Powell last week indicated that there was no urgency for rates to be cut and that the timeline for rate cuts would depend on how the economy develops. The Fed has now entered the so-called blackout period before its next meeting.
