U.S. government debt prices were lower Monday morning, as investors awaited a speech from Federal Reserve Chairman Jerome Powell.
Investors are monitoring developments on the U.S.-China trade front as well as in Hong Kong. According to Reuters, citing officials, law makers and trade experts, a phase two deal between China and the U.S. is unlikely to come soon.
Meanwhile, in Hong Kong, pro-democracy candidates saw a landslide victory in local council elections, amid a record voter turnout, Reuters reported. However, Monday's focus is on Federal Reserve Chairman Jerome Powell, who is due to speak at 07:00 a.m. ET.The U.S. Treasury is due to auction $87 billion in 13 and 28-week bills as well as $40 billion in two-year notes.
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