U.S. Treasury yields fell slightly Monday morning, but the 10-year held above the 1.6 percentage point, ahead of the Federal Reserve later this week.
The yield on the standard 10-year treasury note dropped to 1.621% at 4 a.m. ET. The yield on the 30-year Treasury bond fell to 2.375%. Yields move inversely to prices.
The Federal Open Market Committee is expected to meet on March 16 and 17. The Fed is expected to forecast better economic growth following the signing of the $ 1.9 billion coronavirus fiscal relief package last week.
Bond investors will also be watching to see if the Fed changes its interest rate outlook, with its decision on the rates to be announced on Wednesday after the FOMC meeting.
On Monday, the New York Empire State Manufacturing Index should take place at 7:30 p.m. ET.
Data indicating the flow of foreign investment in U.S. treasures in January is expected at 3 p.m. ET.
Auctions are being held Monday for $ 57 billion in 13-week accounts and $ 54 billion in 26-week accounts.
– CNBC’s Maggie Fitzgerald contributed to this report.