U.S. Treasury yields rose slightly on Monday, with investors looking ahead to the slew of jobs data releases due out throughout the week.
The yield on the benchmark 10-year Treasury note rose 2 basis points to 1.798%. The yield on the 30-year Treasury bond added 3 basis points to reach 2.112%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
There are no major economic data releases slated for Monday.
Instead, investors will likely be focused on the key pieces of the employment data due to be published this week.
December’s Job Openings and Labor Turnover Survey is to be released on Tuesday, followed by January’s ADP employment change report on Wednesday and weekly jobless claims data on Thursday. The highly anticipated January non-farm payrolls report is set to be out on Friday.
The Federal Reserve previously indicated that it’s looking for a fuller recovery in the labor market to help inform its timeline for tightening monetary policy.
However, rising inflation has also been a major concern for the Fed. After its latest policy meeting last week, the central bank signaled that it could start raising interest rates in March, in a bid to combat pricing pressures.
Auctions are scheduled to be held on Monday for $60 billion of 13-week bills and $51 billion of 26-week bills.
