investors look to key economic data this week

U.S. Treasury yields were flat on Monday as investors looked ahead to several key economic data points this week and braced themselves for new tariff announcements.

At 5:59 a.m. ET, the 10-year Treasury yield was up less than 1 basis point at 4.493%, while the 2-year Treasury yield was up less than a basis point at 4.285%.

Yields and prices move in opposite directions, and one basis point equals 0.01%.

Investors are awaiting a slew of economic data this week, with the core inflation reading, excluding volatile food and energy prices, due out at 8:30 a.m. ET on Wednesday. It will offer insights about the health of the U.S. economy.

That will be followed by the producer price index and initial weekly jobless claims on Thursday, and then retail sales data on Friday.

Federal Reserve Chair Jerome Powell is expected to testify before Congress on Tuesday and Wednesday, and investors will watch closely for clues about future monetary policy decisions.

There are also worries about U.S. President Donald Trump’s latest tariff plans. The president told reporters on Sunday that he’s planning to announce a 25% tariff on all steel and aluminum imports on Monday.

Trump didn’t specify when these tariffs would go into effect and said he would issue retaliatory tariffs on countries that tax U.S. imports.

These comments come as Trump’s formerly announced levies on China went into effect overnight on Sunday.

“Steep tariffs and heightened policy uncertainty could push businesses to increasingly adopt wait-and-see behaviors and pull back on hiring,” said Lydia Boussour, senior economist at EY-Parthenon. “This could lead to a more severe job slowdown, weaker income, and restrained consumer spending amidst much higher inflation.”