Treasury yields inch lower as investors pare back Fed rate hike bets

U.S. Treasury yields inched lower on Monday after a sharp selloff the week prior, as investors look ahead to the minutes from the Federal Reserve's latest meeting. The benchmark 10-year Treasury was down over one basis point to 5.255%, and the 30-year Treasury bond also declined one basis point to 5.614%. The 2-year Treasury note yield was 2 basis points lower at 4.797%. One basis point is equal to 0.01%, and yields and prices move in opposite directions. Investors have grappled with a bond market selloff over the past few weeks, while a lackluster monthly jobs report on Friday helped to bring yields down and alleviated concerns about another rate hike.