By Deborah Levine, MarketWatch
NEW YORK (MarketWatch) — Treasury prices slipped on Monday, pushing yields up from near the lowest levels since December, with traders seeing little reason for much of a shift until it receives more information to prompt a rally or sell-off.
Yields on 10-year notes 10_YEAR -0.13% , which move inversely to prices, rose 4 basis points to 3.01%. A basis point is 1/100th of a percent.
The benchmark security’s yields fell to 2.92% last week, the lowest in seven months.
Yields on 2-year notes 2_YEAR +0.99% increased 4 basis points to 0.45%.
Thirty-year bond yields 30_YEAR +0.12% added 3 basis points to 4.22%.
The day brings a Federal Reserve buy back and speeches from two Fed officials, which are expected to add little after a series of weak data that prompted a big rally even through last week’s government debt sales. Read about Treasury bond rally.
The market has “been hit with heavy news, passed the hurdles of auctions, and is telling us that it’s not prepared to do much of anything without new impetus,” said strategists at CRT Capital Group.
The key economic reports for the week are on U.S. retail sales and consumer prices, which are key indicators on growth and inflation.
“Treasury 2-year note yields at 40 basis points probably press few investor buttons here as we’re likely to see another uptick” in the annual consumer-price index, excluding food and energy, strategists at RBS Securities wrote in a note.
