benchmark 10 year treasury Yields were slightly lower on Monday morning as bond traders began a shortened trading week and awaited further economic data delays.
The 10-year bond yield fell more than 1 basis point to 4.048%, and the 30-year bond yield fell more than 2 basis points to 4.687%. The two-year bond yield was almost unchanged at 3.514%.
One basis point equals 0.01%, and yields and prices move in opposite directions.
Investors will see some economic data this week that was delayed during the historic 43-day U.S. government shutdown. Continuing from last week, the delayed report will be released.
Key events include October U.S. retail sales and October producer price index data released on Tuesday, both of which could impact forecasts before the year’s final Federal Reserve meeting.
On Wednesday, investors will see weekly new jobless claims and durable goods orders. The bond market will be closed on Thursday for Thanksgiving.
Investors are also keeping an eye on the Fed’s interest rate decisions next week, as policymakers continue to disagree over the future direction of interest rates.
Traders are currently pricing in about a 75% chance that the Fed will cut interest rates by a quarter of a percentage point next month, according to the CME FedWatch tool.
