Treasury yields dipped on Monday as traders gear up for the Federal Reserve’s annual symposium and the release of its July meeting minutes.
The 2-year Treasury yield was 2 basis points lower at 3.74%. The benchmark 10-year note yield fell 3 basis points to 4.295%.
Minutes from the July 29-30 monetary policy meeting, at which the Fed held rates steady, are due for release at 2 p.m. ET on Wednesday. It was the first meeting at which multiple governors voted against the final decision since late 1993, with Michelle Bowman and Christopher Waller both favoring quarter-point rate cuts.
Fed officials will then gather along with global policymakers and economists in Jackson Hole, Wyoming, from Thursday to Saturday. While the event’s official theme this year is labor markets, central bank members will be closely assessed for their sentiments on the direction of interest rates and the economy.
Fed Chair Jerome Powell will deliver a speech on Friday.
It’s a relatively quiet week on the data front after last week’s focus on inflation and retail sales, with releases on housing starts, home sales and jobless claims due.
