U.S. Treasury yields climbed on Tuesday morning, ahead after the Labor Department reported November’s job openings report.
The yield on the benchmark 10-year Treasury note rose 3 basis points to 1.661%. The yield on the 30-year Treasury bond added 6 basis points, advancing to 2.074%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
On Tuesday the Labor Department reported that workers quit their jobs in record numbers in November. The “quits” level jumped 9% to 4.53 million for the month, according to the department’s Job Openings and Labor Turnover Survey.
The job openings rate was 6.6%, down from about 7% in October but ahead of the 4.5% reported from the prior year.
The JOLTS report is one set of employment data that the Federal Reserve is watching closely as it tightens monetary policy.
The ISM Manufacturing Index registered a 58.7% reading, below the 60% expectation and a drop from 61.1% in November.
The central bank will also be monitoring ADP’s December employment change report, due to be out on Wednesday, followed by the release of weekly jobless claims data on Thursday. The highly anticipated December nonfarm payrolls report is then expected to be out on Friday.
No auctions are slated to be held on Tuesday.
—CNBC’s Jeff Cox contributed to this report.
