Treasury yields climbed on Monday morning, as investors turned their focus to inflation data and a Senate testimony by Federal Reserve Chairman Jerome Powell.
climbed 3 basis points to 2.1469%. Yields move inversely to prices and 1 basis point is equal to 0.01%.Powell's nomination hearing in the Senate is scheduled for 10 a.m. ET on Tuesday. The hearing for Fed Governor Lael Brainard's nomination to the post of vice chair of the central bank is due to take place at 10 a.m. ET on Thursday.
The December consumer price index is due out at 8:30 a.m. ET on Wednesday, and last month's producer price index slated for 8:30 a.m. ET on Thursday. Higher inflation readings might prompt the Fed to raise interest rates early. Stephen Isaacs, chairman of the investment committee at Alvine Capital, told CNBC's "Squawk Box Europe" on Monday that the Fed has been "hopelessly behind the curve" in its movements on monetary policy.
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