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US Treasury yields move lower as investors monitor Fed speeches, auctions

U.S. government debt prices were higher on Monday morning, as market participants awaited speeches from two prominent Federal Reserve policymakers.

US 10-YR
US 30-YR

At 04:20 a.m.. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.682 percent, while the yield on the 30-year Treasury bond was also lower at 3.018 percent.

The Federal Reserve's Jerome Powell is scheduled to speak in Washington D.C. on Wednesday evening. The U.S. central bank chairman is expected to deliver opening remarks and answer questions on monetary policy at a town hall meeting with teachers.

Meanwhile, the Federal Reserve's vice chairman for supervision is also expected to speak shortly after the closing bell. Randal Quarles, who oversees the nation's banking industry, is poised to deliver remarks on stress testing at a reception in New York.

On the data front, investors are likely to closely monitor trade deficit figures for November at around 8:30 a.m. ET. Productivity data and unit labor costs for the fourth quarter are expected to follow later in the session.

Meanwhile, the U.S. Treasury is set to auction $50 billion of 18-day bills and $27 billion of 10-year notes.

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