U.S. Treasury yields moved lower on Monday as investors looked ahead to the Jackson Hole economic symposium.
The yield on the benchmark 10-year Treasury note was down about 4 basis points at 2.9482% at 3:25 a.m. ET, while the yield on the 30-year Treasury bond traded lower by 3 basis points to 3.1937%. Yields move inversely to prices, and a basis point is equal to 0.01%.
The yield on the short-term 2-year Treasury note also traded marginally lower at 3.2467%.
Those moves come ahead of what could be a volatile week of trading. Investors are anticipating U.S. Federal Reserve Chairman Jerome Powell’s latest comments on inflation at the central bank’s annual Jackson Hole economic symposium.
Yields fell and then rose at the end of last week as markets mulled over the Fed’s released July meeting minutes. The Fed indicated that it would continue hiking rates until inflation slows down significantly, although the central bank could soon decrease its pace of tightening.
There are no major economic data releases due on Monday. The Treasury will auction $54 billion worth of 13-week bills on Monday and $42 billion worth of 26-week bills.
— CNBC’s Sarah Min and Samantha Subin contributed to this article.