Bond yields were steady Monday ahead of two big auctions and key economic data later in the week.
What’s happening
-
The yield on the 2-year Treasury
BX:TMUBMUSD02Y
was 4.69%, up 2 points. Yields move in the opposite direction to prices. -
The yield on the 10-year Treasury
BX:TMUBMUSD10Y
was 4.24%, down 1 basis point. -
The yield on the 30-year Treasury
BX:TMUBMUSD30Y
was 4.37%, down 0 basis points.
What’s driving markets
There’s a $63 billion auction of two-year notes and a $64 billion auction of 5-year notes scheduled for Monday.
New-home sales data is due for release, the first indicator of the week which will see the PCE price index on Thursday and the ISM manufacturing index on Friday.
Strategists at BNP Paribas say there’s a bigger risk the PCE price index will come in at 0.5% than 0.3%, due to the stronger-than-expected PPI data earlier in the month.
This story originally appeared on Marketwatch
