U.S. government debt prices were lower on Monday morning, as investors awaited a fresh batch of economic data and reacted to comments from Federal Reserve Chairman Jerome Powell.
div > div.group > p:first-child"> At around 4:00 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.6465 percent, while the yield on the 30-year Treasury bond was also higher at 3.0254 percent.
Last week, data showed the world's largest economy added just 20,000 jobs in February versus an expected gain of 180,000 — marking the weakest month of jobs creation since September 2017. The data come amid growing concern about the global economy. Data out of China last week showed its exports slumped 20.7 percent from a year earlier, far below analyst expectations and wiping out a surprise jump in January.
On Sunday, Fed Chair Powell told"60 Minutes" that he thinks the U.S. economy is still strong, though he acknowledged that weakness around the world could start to hit the U.S.On Monday, investors will keep an eye on more data out Monday, with retail sales out at 8:30 a.m. ET and business inventories at 10:00 a.m. ET.
Also on Monday, the Treasury is set to auction $48 billion worth of 13-week notes, $39 billion worth of 26-week notes and $38 billion worth of three-year notes.
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