US Treasury yields fell slightly Monday morning, but the 10-year remained above 1.6% ahead of the Federal Reserve meeting later this week.
The yield on the benchmark 10-year Treasury bill fell to 1.621% at 4 a.m. ET. The yield on the 30-year government bond fell to 2.375%. Revenues move inversely with prices.
The Federal Open Market Committee will meet on March 16-17. The Fed is expected to forecast better economic growth, following the signing of the $ 1.9 trillion coronavirus fiscal relief package last week.
Bond investors will also keep an eye on whether the Fed changes its interest rate outlook, with its interest rate decision to be announced Wednesday after the FOMC meeting.
Monday, the March New York Empire State Manufacturing Index comes out at 7:30 a.m. ET.
Data showing the flows of foreign investment in U.S. Treasuries in January is expected at 3 p.m. ET.
Auctions will be held Monday for $ 57 billion in 13-week bills and $ 54 billion in 26-week bills.
CNBC’s Maggie Fitzgerald contributed to this report.