Treasury yields mixed as DOJ opens criminal investigation into Fed Chair Powell

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U.S. Treasury yields were mixed on Monday as investors reacted to the criminal investigation into Federal Reserve Chair Jerome Powell, and looked ahead to key inflation data for the week.

At 3:40 a.m. ET, the 10-year Treasury yield was more than 1 basis point higher at 4.187%, while the 2-year Treasury note was 2 basis points lower to 3.517%. The 30-year bond yield moved up 3 basis points to 4.853%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

On Sunday evening, Fed Chair Powell announced that the Department of Justice was conducting a criminal probe into him, focusing on the $2.5 billion renovation to the central bank’s headquarters in Washington, D.C.

Treasury yields mixed as DOJ opens criminal investigation into Fed Chair Powell

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