Bond Report: 30-year Treasury yield snaps six-day streak of declines

Treasury yields climbed Monday as traders braced for a Federal Reserve policy meeting starting Tuesday that could help to provide further clarity on the central bank’s approach to tackling sluggish inflation and scaling back its $4.5 trillion asset portfolio.

The yield on the 30-year bond TMUBMUSD30Y, +0.27% added 3.1 basis points to 2.833%, ending a six-day streak of declines. The yield on the 10-year Treasury note TMUBMUSD10Y, -0.28% rose 2.1 basis points to 2.253%, while the 2-year note’s yield TMUBMUSD02Y, -0.90% gained 2.1 basis points to 1.365%.

In particular, long-dated Treasury yields came under selling pressure, pushing yields, which move inversely to prices, higher as investors took money off the table following a two-week surge in government-bond prices, on the back of a wave of lackluster economic data and dovish central bank speeches.

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