U.S. Treasury yields are rising slightly ahead of the U.S. Federal Reserve’s policy meeting and inflation data that are due out later this week.
The yield on the benchmark 10-year Treasury note rose to 1.579% Monday morning (April 26). The yield on the 30-year Treasury bond climbed to 2.254%. Yields move inversely to prices.
The Federal Reserve meets on Tuesday and Wednesday, with investors watching for any indications on the future direction of the central bank’s interest rate policy. Fed Chairman Jerome Powell will host a press conference Wednesday afternoon to discuss the Federal Open Market Committee’s decision.
The March personal consumption expenditures index, one measure of inflation, is then expected to come out on Friday.
Auctions will be held Monday for $57 billion of 13-week bills, $54 billion of 26-week bills, $60 billion of two-year notes and $61 billion of five-year notes.
Meanwhile, stock markets in Europe were flat on Monday as investors wait on a busy week for economic data and company earnings. The pan-European Stoxx 600 index barely moved Monday, with technology stocks sliding 0.6% while basic resources gained 0.8%.
Some of the largest companies in the world are scheduled to publish results this week, including Apple, Microsoft, Amazon and Alphabet, as well as big data releases, including the latest U.S. gross domestic product (GDP) and inflation numbers.
Shares in major Asia-Pacific markets were mostly higher on Monday as investors continue to watch the COVID-19 situation in India. That country continues to battle a sharp rise in new COVID-19 infections. On Sunday, nearly 350,000 new daily infections were reported.
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