US Treasury Yield Eases Ahead of Fed Remarks

The US 10-year Treasury yield eased on Monday, falling by about 3 basis points to 4.97%, as investors awaited appearances from Federal Reserve officials for further clues on monetary policy.

Minneapolis Fed President Neel Kashkari said over the weekend that inflation remains too high and has expanded beyond the oil-price shock linked to the Iran war.

Chicago Fed President Austan Goolsbee is scheduled to speak later Monday, followed by New York Fed President John Williams on Tuesday.

The yield had surged to a 19-year high last week after the Fed raised interest rates and signaled at least one more hike this year. The central bank's commitment to containing inflation was reiterated by Chair Warsh.