U.S. Treasury bonds rose on Monday on bargain hunting encouraged by fresh signs of spotty economic growth, which might slow the Federal Reserve’s shift away from loose monetary polices.
After a sell-off last week, benchmark 10-year Treasury notes—whose yields are used to calculate mortgage rates and other consumer loans—rose 6/32 in price to yield 2.59 percent. Meanwhile, 30-year bonds rallied 10/32 in price to yield 3.33 percent were.
The Fed’s statement is due on Wednesday with a press conference with Chair Janet Yellen shortly afterwards. Investors are anxious to learn when the central bank might opt to hike interest rates.