- The yield on the benchmark 10-year Treasury note fell 5 basis points to 2.877%.
- The yield on the 30-year Treasury bond declined 1 basis point to 3.086%.
- Yields move inversely to prices and 1 basis point is equal to 0.01%.
The yield on the U.S. 10-year Treasury note fell on Monday to start the new trading week as investors looked ahead to fresh economic data and monitored any clues on the path of monetary policy.
The yield on the benchmark 10-year Treasury note fell 5 basis points to 2.886%. The yield on the 30-year Treasury bond declined 1 basis point to 3.103%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Investors will have their eye on retail sales data this week, which could give them insight into how retailers are managing inflation, which remains near 40-year highs.
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On Monday, the Empire Manufacturing Survey came in lower than expected at -11.6, down from 24.6 the previous month, suggesting that U.S. growth is slowing. However, some pointed out that the data comes from a region without significant manufacturing activity.
The New York Fed President John Williams was expected to speak on Monday at the Mortgage Bankers Association Secondary and Capital Markets Conference and Expo.