By Ben Eisen, MarketWatch

NEW YORK (MarketWatch) -- U.S. Treasury prices climbed Thursday as investors placed bets that an economic symposium in Jackson Hole would reaffirm a dovish U.S. monetary policy outlook, putting benchmark yields on track to snap a three-day rise.

The 10-year note (10_YEAR) yield, which falls as prices rise, was down 2 basis points on the day at 2.407%. Since hitting a 14-month low last Friday, the yield has moved higher for three consecutive sessions.

The Jackson Hole conference, which brings together a number of prominent central bankers, will include a speech from Fed Chairwoman Janet Yellen on Friday. Investors expect Yellen to hold tight to the central bank's low-rate message, but they will nonetheless watch for any changes in tone. A number of other Fed officials are slated to speak in the coming days.

"Jackson Hole is what everyone is waiting for, but at the same time the market isn't expecting any major change in policy direction to come out of Jackson Hole," said Don Ellenberger, senior portfolio manager at Federated Investors. "The big surprise would be if Janet Yellen says anything even remotely hawkish."

Market movers

Here's what investors are keeping an eye on during the trading session.

The 30-year bond (30_YEAR) yield fell 2.5 basis points to 3.195%, while the 5-year note (5_YEAR) yield was down a basis point at 1.620%.

TIPS auction

The Treasury Department sold $16 billion in inflation-protected securities, or TIPS, which guard against rising consumer cost pressures by increasing in principle alongside inflation. Here are the details of the auction:

Nobel laureate Robert Shiller used low TIPS yields as an example of just how expensive bonds are during a Tuesday television interview.

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