Treasury yields slipped Monday morning as investors focused on the development of the Russian-Ukrainian war as well as inflation data due later in the week.
The yield on the benchmark 10-year Treasury fell less than a basis point to 1.7171% at 4 am ET. The 30-year Treasury yield fell less than a basis point to 2.1407%. Yields vary inversely with prices, and 1 basis point equals 0.01%.
On Monday, Moscow said it would stop shelling four Ukrainian cities, including Kyiv, to ensure the evacuation of civilians.
Evacuation attempts were halted over the weekend after Russian forces were accused of violating the ceasefire in the cities of Mariupol and Volnovakha.
US Secretary of State Anthony Blinken said Sunday that the United States and its allies are considering a ban on imports of Russian oil and natural gas in response to the country’s invasion of Ukraine.
Futures for West Texas Intermediate crude briefly topped $130 a barrel Sunday night, the highest since 2008, amid concerns over a ban on Russian oil and gas supplies.
There are fears that a ban on Russian oil and gas will increase the risk of stagflation when inflation rises but economic growth slows.
As such, investors will be even more closely watching inflation data due later this week.
Monday is not scheduled to release important economic data.
Auctions are planned to sell 13-week notes worth $60 billion and 26-week notes worth $51 billion.