U.S. Treasuries Higher

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.


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