U.S. Treasury yields fell on Monday as investors remained focused on remarks from Federal Reserve Chair Jerome Powell that signaled the possibility of more interest rate hikes to tackle inflation.
The yield on the benchmark 10-year Treasury yield was down at 4.2217%.
While Powell said the Fed could be flexible, he said it still has further to go to fight inflation.
"Although inflation has moved down from its peak — a welcome development — it remains too high," Powell said in prepared remarks.
The Treasury is expected to auction three-month and six-month bills as well as two-year and five-year notes.
Persons:
Jerome Powell, Powell, Willem Sels, Sels, CNBC's, subindexes
Organizations:
Treasury, Federal, Traders, Federal Reserve, Kansas City, HSBC Private Banking, Wealth, Composite, U.S . Labor Department
Locations:
Jackson Hole , Wyoming, U.S