U.S. Treasury yields were slightly lower Monday as traders continued to digest strong numbers in the latest jobs report and looked ahead to inflation figures due out later this week.
The yield on the benchmark 10-year Treasury slipped about a basis point to about 3.0878%, while the yield on the 30-year Treasury bond was also down a basis point at 3.2539%. Yields move inversely to prices, and a basis point is equal to 0.01%.
Investors are looking ahead to key inflation data this week. The June consumer price index will be released Wednesday and is expected to show headline inflation, including food and energy, rising above May’s 8.6% level.
Also on the data front, the June producer price index is due out Thursday and the University of Michigan consumer sentiment report for July will be released Friday. There are no major data releases out Monday.
On Friday, investors absorbed the June employment report that showed jobs growing at a faster clip than expected. Nonfarm payrolls increased 372,000 last month, according to the Bureau of Labor Statistics. Economists predicted the U.S. economy would add 250,000 jobs, according to the Dow Jones.
Yields jumped Friday after the release with the report likely to keep the U.S. Federal Reserve more aggressive with its rate hiking path.
— CNBC’s Tanaya Macheel, Carmen Reinicke and Jeff Cox contributed to this report.