U.S. Treasury yields declined Monday as investors fretted over debt ceiling deal negotiations and assessed the outlook for Federal Reserve interest rate policy.
Yields and prices move in opposite directions and one basis point equals 0.01%.Talks about a debt ceiling deal are set to continue Monday, with President Joe Biden and House Speaker Kevin McCarthy being expected to. If a resolution is not found, the U.S. risks defaulting on its debt as soon as June 1.
Talks stalled late on Saturday as the two sides struggled to come to an agreement. On Sunday, Biden called for the Republicans to "move from their extreme position", while McCarthy told reporters that Biden needed to "get away from the socialist wing of the Democratic party and represent America.
More central bank speakers are due to speak Monday ahead of the release of minutes from the Fed's last meeting on Wednesday.
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