U.S. Treasury yields were mixed early Monday as investors geared up for a busy week of economic data, corporate earnings and midterm elections.
The 10-year Treasury note fell 1 basis point in early trading and was last seen at 4.914%. of 30 year treasury The yield fell by about 2 basis points to 5.284%. 2 years treasury The yield rose 1 basis point to 4.589%.
One basis point equals 0.01%, and yields and prices move in opposite directions.
Traders were watching oil prices plummet on Monday after Secretary of State Marco Rubio said President Donald Trump wanted to resolve the Iran war “diplomatically.”
While there was a strong correlation between oil and rising bond yields this year, this trend disappeared in October as attention seemed to shift to AI and Big Tech.
Stocks fell sharply on Friday, led by tech stocks, and U.S. Treasuries were pushed higher as investors sought safe havens. The health of the technology sector remains in focus. apple and Qualcomm First.
This week will be a busy week for job market data. On Tuesday, the JOLTS job information for September will be released, on Wednesday, the ADP employment report will be released, on Thursday, productivity and unemployment insurance claims will be released, and on Friday, the October non-farm employment number will be released.
On Wednesday, the U.S. Treasury is expected to announce the size of its planned bids for notes and bonds.
All eyes will also be on the results of Tuesday’s midterm elections and how they affect Congress’ spending plans and priorities.
