US Treasury yields fell slightly on Monday morning, but remained above 1.6% for 10 years, ahead of the Federal Reserve meeting later this week.
The yield on the 10-year Treasury benchmark fell to 1.621% at 4 a.m. ET. The yield on the 30-year treasury bond fell to 2.375%. Yields are reversed from prices.
The Federal Open Market Committee is scheduled to meet on March 16 and 17. The Fed is expected to forecast better economic growth after signing a $ 1.9 trillion coronavirus tax aid package last week.
Bond investors will also watch if the Fed changes its interest rate outlook, with the rate decision to be announced on Wednesday after the FOMC meeting.
On Monday, the New York Empire Manufacturing Index for March will be released at 7:30 AM ET.
Data showing foreign investment flows in US Treasuries in January are expected at 15:00 ET.
Auctions of $ 57 billion for 13-week bills and $ 54 billion for 26-week bills will take place on Monday.
– CNG’s Maggie Fitzgerald contributed to the report.