The yield on US Treasury bonds rose slightly, while market participants were following the development of the conflict between Russia and Ukraine, and were also preparing for the publication of US inflation data.
The yield on 10-year Treasury bonds rose by 1.4 basis points, reaching 1.736%, while the yield on 30-year bonds was 2.156% (+0.8 basis points). Meanwhile, the yield on 2-year Treasury bonds, reflecting expectations of short-term interest rates, fell by 0.6 basis points to 1.484%.
Fighting in Ukraine intensified over the weekend and attempts at a ceasefire to allow civilians to evacuate from the besieged city of Mariupol seem to have so far failed. On Monday, Russia said it would stop attacks in four Ukrainian cities to ensure the evacuation of civilians.
Meanwhile, US Secretary of State Blinken said that in response to Russia's invasion of Ukraine, the US and its allies are considering a ban on the import of Russian oil and natural gas. Meanwhile, economists warn that such a move will increase the risk of stagflation when inflation is rising but economic growth is slowing. The latest US inflation data will be published on Thursday. According to forecasts, in February the consumer price index increased by 0.8% on a monthly basis and by 7.9% per annum.