The 10-year Treasury yield touched a fresh 14-month high as investors looked ahead to key inflation prints.
The yield on the 10-year Treasury was last up around 2 basis points at 4.79%, the highest level since Nov. 1, 2023. This followed the 10-year Treasury yield’s jump on Friday following a hotter-than-expected jobs report. The 2-year Treasury yield was marginally lower at 4.392%.
One basis point is equal to 0.01%. Yields and prices move in opposite directions.
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.
