U.S. Treasury yields rose slightly on Monday as pressure on global government bonds resumed on the back of soaring oil prices and inflation concerns.
The yield on the 10-year Treasury note, a key measure of mortgage borrowing, auto loans and credit card debt, rose more than 3 basis points to 5.219%.
The yield on 30-year government bonds, which are sensitive to geopolitical risks, rose 2 basis points to 5.529%.
The two-year Treasury yield, which tends to react in sync with the Federal Reserve’s short-term interest rate decisions, rose more than 5 basis points to 4.916%.
One basis point equals 0.01%, and yields and prices move in opposite directions.
Bond yields elsewhere also rose as concerns over global government debt and persistently high inflation continued to weigh on investors.
yield of 10 year UK government bondThe stock, known as Gilts, was up 4 basis points at 5.408%. German Bundesbond 10 Year Bond The yield, considered the benchmark for euro zone government bonds, was last unchanged at 3.6277%.
both French 10 year government bond and Japan 10 year bond yield It rose more than 1 basis point early Monday.
The move follows a volatile week for U.S. Treasuries. The benchmark 10-year Treasury yield on Thursday hit its highest level since June 2007, before easing, while the 30-year Treasury yield hit its highest level since 2004.
As global oil prices rose on Monday, West Texas Intermediate Futures It rose 4% to $96.13 per barrel. Investors are hoping for a flurry of new domestic economic data this week.
The latest monthly non-farm payrolls data and unemployment rate are expected to be released later this week, following the core PCE index and the latest quarterly GDP growth. Before that, the August JOLTS report to be released on Tuesday predicts that the number of job openings will be 7.24 million compared to the previous month, down slightly from July’s 7.27 million.
