U.S. bond yields rose during trading on Monday, as investors await the Federal Reserve’s meeting scheduled for this week, with widespread expectations of a 25 basis point interest rate cut.
The yield on two-year bonds—most sensitive to changes in monetary policy—rose by 1.5 basis points to 3.499% at 3:53 PM Mecca time.
The yield on ten-year bonds increased by 2.3 basis points to 4.02%, while the yield on thirty-year bonds rose by about 1.7 points to 4.603%.
Policymakers at the Federal Reserve are set to meet on October 28 and 29, and investors are looking forward to remarks from Federal Reserve Chair Jerome Powell on Wednesday to gain insights into the monetary policy outlook in the United States.
