Treasury yields inched higher early Monday as the holiday-shortened trading week began.
The yield on the 10-year Treasury was 1 basis point higher at 4.536%, while the 2-year Treasury was up 1 basis point at 4.325%.
One basis point is equal to 0.01% and yields and prices move in opposite directions.
Treasurys
The 10-year yield jumped above 4.5% last Thursday after policymakers at the U.S. Federal Reserve indicated only two more interest rate cuts lie ahead in 2025, down from four potential cuts that had been signaled in September.
Yields cooled Friday after the November personal consumption expenditures price index, the Fed’s preferred measure of inflation, came in 0.1 percentage point below annual and monthly forecasts.
Traders are also digesting news from over the weekend that a U.S. government shutdown was narrowly averted.
U.S. markets close early Tuesday and are shuttered Wednesday for the Christmas holiday.
It is a quiet week for major data releases, though readings on durable goods orders, new home orders, and jobless claims are due.