U.S. Treasury yields fell slightly on Monday morning, but the 10-year index remained above the 1.6% mark, ahead of the Federal Reserve meeting later this week.
The yield on the 10-year reference Treasury note fell to 1.621% at 4:00 am ET. Yield on 30-year Treasury bonds fell to 2.375%. Yields move inversely to prices.
The Federal Open Market Committee is scheduled to meet on the 16th and 17th of March. The Fed is forecasting better economic growth after signing the $ 1.9 trillion coronavirus tax relief package last week.
Bond investors will also be on the lookout for whether the Fed will change its outlook on interest rates, with its decision on rates to be announced on Wednesday after the FOMC meeting.
On Monday, the New York Empire State Manufacturing Index for March will launch at 7:30 am Eastern Time.
Data showing foreign investment flows in U.S. Treasury bills in January is expected at 3 pm Eastern Time.
The auctions will be held on Monday for $ 57 billion in 13-week accounts and $ 54 billion in 26-week accounts.
– CNBC’s Maggie Fitzgerald contributed to this report.