US Treasury yields were slightly lower on Monday as traders continued to digest strong numbers from the latest jobs report and anticipate inflation figures due out later this week.
The yield on the benchmark 10-year treasury slipped about a basis point to around 3.0878%, while the yield on the 30-year treasury bond also fell a basis point to 3.2539%. Yields move inversely to prices and one basis point is equal to 0.01%.
Investors are anticipating key inflation data this week. The June Consumer Price Index will be released on Wednesday and is expected to show headline inflation, including food and energy, exceeding May’s 8.6% level.
Also on the data front, the June producer price index is due out on Thursday and the University of Michigan consumer sentiment report for July will be released on Friday. There are no major data releases on Monday.
On Friday, investors absorbed the June jobs report which showed jobs growing at a faster pace than expected. Nonfarm payrolls rose by 372,000 last month, according to the Bureau of Labor Statistics. Economists predicted the US economy would create 250,000 jobs, according to the Dow Jones.
Yields jumped on Friday after the release, with the report likely to keep the US Federal Reserve more aggressive with its rate hike path.
– CNBC’s Tanaya Macheel, Carmen Reinicke and Jeff Cox contributed to this report.