The yield on the benchmark 10-year Treasury note was at 1.3% on Monday, down from last week’s two-week high of 1.375%, as investors digest a dovish stance from Fed Chair. Jerome Powell said during the Jackson Hole the Fed will likely reduce stimulus this year although he gave no tapering timeline and added that interest rate hikes are still off in the distance. The payrolls report and ISM PMIs due this week will provide an update on the American economic recovery and strong figures could steepen the Treasury yield curve.
