U.S. Treasury Yields Dip Ahead Of Inflation Data And Bank Earnings

U.S. Treasury yields fell on Monday (July 12) as investors’ attention turned to the release of inflation data and congressional testimony by Federal Reserve Chairman Jerome Powell later in the week, as well as a spate of earnings from the largest U.S. banks.

The yield on the benchmark 10-year Treasury note fell two basis points to 1.334% at 7:00 a.m. on Monday. The yield on the 30-year Treasury bond dipped one basis point to 1.963%.

Yields move inversely to prices and one basis point equals 0.01 percentage points. The inflation rate for the U.S. in June is set to be released on Tuesday (July 13) of this week.

Meanwhile, U.S. Federal Reserve Chairman Jerome Powell is due to give his semi-annual monetary policy report before the U.S. House and Senate on Wednesday and Thursday.

Bank earnings will be released throughout the week from major lenders such as JPMorgan Chase, Bank of America and Citigroup.

Auctions are due to be held on Monday for $54 billion of 13-week bills, $51 billion of 26-week bills, $58 billion of 3-week notes and $38 billion of 10-year notes.