U.S. Treasury yields were higher Monday as investors looked ahead to key inflation prints.
The 10-year Treasury yield, which had jumped to its highest level since November 2023 on a hotter-than-expected jobs report on Friday, extended gains by one basis point to 4.784%. The 2-year Treasury yield added three basis points to reach 4.421%.
One basis point is equal to 0.01%. Yields and prices move in opposite directions.
Treasurys
Global bond yields are climbing, as traders broadly anticipate a slower pace of interest rate cuts this year.
That is being led by expectations that the U.S. Federal Reserve will act with caution, amid signs of both potential economic strength and uncertainty delivered by the policies of President-elect Donald Trump.
Data released Friday showed nonfarm payrolls grew by 256,00 in December, up from 212,00 in November and above a forecast of 155,000 jobs.
Attention now turns to inflation data, with the producer price index report expected on Tuesday and the consumer price index due out on Wednesday.