investors look to key data in week ahead [Video]

U.S. Treasury yields fell slightly Monday as investors looked to key inflation data and comments from Federal Reserve officials slated for the week.

The yield on the 10-year Treasury was down by 2 basis points at 4.483%. The 2-year Treasury yield was last at 4.849% after also falling by 2 basis points.

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

Investors await key economic data due this week, including April’s consumer price index, which is expected Wednesday and will provide fresh insights into whether consumer inflation is easing or sticky. April’s producer price index, which tracks inflation on a wholesale level, is also due this week.

In guidance issued following the latest Fed meeting earlier this month, policymakers noted that that there had been “a lack of further progress” when it came to inflation returning to its 2% target.

Fed officials have since reiterated this stance in remarks and have repeatedly indicated that they are waiting for more evidence that …