US Treasury yields tick higher ahead of comments from Fed’s Powell

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U.S. Markets Overview: Treasurys chart

At around 03:40 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.4015, while the yield on the 30-year Treasury bond was also higher at around 2.8307.

Market participants are likely to closely monitor a flurry of speeches from policymakers at the U.S. central bank. Fed Chair Jerome Powell, Philadelphia Fed President Patrick Harker and Vice Chair Richard Clarida are all set to comment on the world’s largest economy at separate events on Monday.

Meanwhile, the U.S. Treasury is set to auction $36 billion in 13-week bills and $36 billion in 26-week bills.

In commodity markets, oil prices climbed to multi-week highs Monday morning. It comes after OPEC indicated it would most likely maintain supply cuts that have helped prop up prices this year, while tensions continued to intensify in the Middle East.

International benchmark Brent crude was trading at around $73.19, up more than 1.4%, while U.S. West Texas Intermediate (WTI) stood at $63.60, up around 1.3%.

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