The yield on the US 10-year Treasury note slipped about 3 basis points to 4.97% on Monday, as investors looked ahead to a series of Federal Reserve speeches for fresh signals on the monetary policy outlook. On Sunday, Minneapolis Fed President Neel Kashkari said inflation remains uncomfortably high and noted that price pressures have broadened beyond the oil-price shock associated with the conflict involving Iran. Chicago Fed President Austan Goolsbee is due to speak later on Monday, followed by New York Fed President John Williams on Tuesday.
Global bond yields also eased as oil prices declined for a fourth straight session, helping to temper inflation worries. The previous week, the benchmark 10-year yield had climbed to a 19-year high after the Fed raised interest rates and indicated that at least one additional increase is likely this year, while Chair Warsh reaffirmed the central bank’s determination to bring inflation under control.