U.S. Treasury yields ebbed lower on Monday morning, with investor attention focused on the Federal Reserve two-day monetary policy meeting this week.
The yield on the benchmark 10-year Treasury note fell 5 basis points to 1.233% at 3:30 a.m. ET. The yield on the 30-year Treasury bond dipped 5 basis points to 1.872%. Yields move inversely to prices.
The Federal Open Market Committee’s two-day meeting is due to begin on Tuesday, with a policy statement issued on Wednesday afternoon.
On Monday, the U.S. Department of Housing and Urban Development will release new home sales data at 10 a.m. ET. The Federal Reserve Bank of Dallas will then release its monthly business activity index for manufacturing in Texas at 10:30 a.m. ET.
Auctions are due to be held on Monday for $54 billion of 13-week bills, $51 billion of 26-week bills and $60 billion of 2-year notes.
— CNBC’s Tanaya Macheel contributed to this market report.