Bond yields were steady on Monday as investors awaited fresh economic data following Friday’s strong jobs report.
yield 10 year US bond Interest rates, a key benchmark for mortgages, auto loans and credit card debt, were flat at 4.855%. yield of 30 year US bond Although it often fluctuates depending on geopolitical developments, it remained unchanged at 5.257%.
yield of 2 years treasury Notes, which more closely follow the Fed’s short-term interest rate decisions, remained unchanged at 4.52%.
One basis point is equal to 0.01%, or 1/100th of 1%, and yield and price are inversely proportional to each other.
Traders are keeping an eye on key inflation data expected on Tuesday for further insight into the domestic economic situation.
According to Trading Economics, the consensus forecast is for the annual consumer price index to rise to 3.9% in October from 3.7% in September. Core CPI, which excludes volatile food and energy costs, is also expected to be 2.8% in October, up from 2.6% in September.
The latest U.S. Product Price Index report, which often provides early information on consumer inflation, is expected to be released later this week.
The statistic comes as U.S. Treasury yields rose during trading on Friday after the U.S. employment situation was better than expected last week. The monthly non-farm payrolls report showed that payrolls rose by 165,000 in October, well above the 59,000 expected by economists, and the unemployment rate fell to 4.1%.
Meanwhile, energy prices fell in early trading. West Texas Intermediate Futures December deliveries fell 1.2% to $89.70 per barrel after President Donald Trump said the likelihood of another attack on Iran was “extremely low” as talks continued to resolve the Middle East conflict.
