U.S. Treasury yields fell on Tuesday as investors braced for the release of delayed jobs data after the 43-day government shutdown ended.
of 10 year government bond yield The interest rate, the benchmark for U.S. government borrowing, fell nearly 3 basis points to 4.104% as of 4:47 a.m. ET Tuesday.
yield 2 years U.S. Treasuries fell more than 4 basis points to 3.568%. of 30 year bond Meanwhile, the yield fell by more than 1 basis point to 4.717%.
One basis point is equal to 0.01%, or 1/100th of 1%, and yield and price are inversely proportional to each other.
Expectations that the U.S. Federal Reserve will cut interest rates further in December have waned in recent days as data blackouts associated with the longest government shutdown in history clouded the overall economic outlook.
With the Fed increasingly divided over the future direction of monetary policy, investors are now closely monitoring several key economic indicators due to be released in the coming days to help navigate the uncertainty.
The data set includes the August trade balance due on Wednesday, followed by the Bureau of Labor Statistics’ September nonfarm payrolls report on Thursday.
Ahead of these numbers, Tuesday’s ADP Employment Change Weekly will also provide a snapshot of U.S. private sector employment.
