Traders work on the floor of the New York Stock Exchange on Feb. 6, 2025.
The benchmark 10-year Treasury yield fell on Monday as investors studied the latest retail sales report to gauge the state of consumer spending, and looked ahead to a big week.
The 10-year Treasury note yield was down less than 1 basis point at 4.299%, while the 2-year Treasury yield was up more than 3 basis points at 4.048%.
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WATCH HEREOne basis point is equal to 0.01%, and yields move inversely to prices.
Investors waded through February retail sales data on Monday, hoping to divine the health of the U.S. economy.
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SIGN UP "While spending did not weaken in line with sentiment, estimates imply a subdued Q1," Barclays economists led by Jonathan MIller wrote in a report. "Pull-forward effects in late 2024 from consumers front-running expected tariffs is now giving way to more pessimism."
Retail sales increased 0.2% last month, reversing a downwardly revised decline of 1.2% in January, but less than the 0.6% increase that economists polled by Dow Jones had estimated.
Sales excluding autos increased 0.3%, in line with expectations and hinting that the economy remains on steady footing for now.
Money Report
Recession fears have been heightened lately as Wall Street tries to gauge the effect of President Donald Trump's fast-changing tariff policies and retaliatory measures by major trading partners, as well as signs of weaker consumer sentiment, on economic growth and prices.
To add to worries, U.S. Treasury Secretary Scott Bessent said on Sunday that there are "no guarantees" that a recession won't happen.
Attention turns next to the Federal Reserve's two-day policy meeting that gets underway Tuesday and wraps up Wednesday, when officials are widely expected to leave benchmark overnight borrowing rates at their current 4.25% to 4.50% level, according to the CME Group FedWatch Tool.
Federal Reserve Chair Jerome Powell has reiterated this year that the central bank is in no hurry to cut interest rates, but investors will pay close attention to his post-meeting comments for any hints about signs of weakness in the economy and shifts in monetary policy.
