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Treasury yields inch higher as investors look to data, Fed speaker comments

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U.S. Treasury yields ticked higher Monday as investors looked ahead to fresh economic data and comments from Federal Reserve officials slated for the week.

At 4:33 p.m. ET, the yield on the 10-year Treasury was nearly 3 basis points higher at 4.447%. The 2-year Treasury yield was last up more than 2 basis points to 4.852%.

Yields and prices move in opposite directions. One basis point equals 0.01%.

Investors awaited the latest economic data and comments from Federal Reserve officials as they weighed the state of the economy and the outlook for interest rates.

Existing as well as new home sales data is due this week, as are durable goods orders figures. Minutes from the Fed's latest meeting will also be published, which investors will be parsing through for fresh insights into the central bank's thinking about the economy and monetary policy.

The Fed left interest rates unchanged at its last meeting, and indicated that interest rates would not be cut until policymakers were more confident about inflation easing to its 2% target.

Key inflation data has been released since then, with the consumer price index for April coming in just below estimates at 0.3% on a monthly basis last week. The annual CPI reading was in line with expectations of 3.4%. The producer price index for April was slightly higher than previously expected.

Investors are also hoping for clues about when and how often rates may be cut this year from policymakers, several of whom are expected to speak throughout the week. Central bank officials have in recent weeks broadly echoed the sentiment conveyed at their last meeting.

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