U.S. Treasury yields were higher on Monday as investors digested comments from Federal Reserve Chair Jerome Powell.
The yield on the benchmark 10-year Treasury note rose more than 8 basis points to 3.123%, while the yield on the 30-year Treasury bond gained roughly 5 basis points to 3.253%.
The yield on the short-term 2-year Treasury note was about 7 basis points higher, trading at about 3.47%. Yields move inversely to prices, and a basis point is equal to 0.01%.
Treasurys
It comes shortly after the Fed’s Powell delivered his annual policy speech at Jackson Hole, Wyoming, on Friday.
Powell said that the U.S. central bank will “use our tools forcefully” to attack inflation that is still running near its highest level in more than 40 years. He acknowledged that rising interest rates will cause “some pain” to households and businesses.
On the data front, Dallas Fed manufacturing figures for August are slated to be released at 10:30 a.m. ET.
Fed Vice Chair Lael Brainard is scheduled to deliver remarks on the health of the U.S. economy at around 2:15 p.m. ET.
The U.S. Treasury on Monday will auction $54 billion in 13-week bills and $42 billion in 26-week bills.