Exchange traded funds (ETFs) indexed to Treasury bonds were set to weaken Monday as yields rose while investors awaited speeches from several Federal Reserve officials.
Ten-year Treasury notes declined while bets on inflation moving higher reached a three-week high Monday, according to Bloomberg.
PIMCO’s Bill Gross made waves last week when he said Treasuries have “little value” due to the growing debt load in the U.S. [Treasury ETFs: Bill Gross Talks Book On Bonds.]
Fed chief Ben Bernanke is scheduled to speak later Monday. Investors will also be monitoring speeches from Atlanta Fed chief Dennis Lockhart and Chicago Fed President Charles Evans.