U.S. Treasury yields were mixed on Monday as investors weighed the state of the economy and looked ahead to key data slated for the week.
Yields and prices have an inverted relationship. One basis point equals 0.01%.. Nonfarm payrolls rose by more than expected, showing that the U.S. economy added 275,000 jobs in February, more than the Dow Jones estimate of 198,000.The unemployment rate, however, rose to 3.9%, coming in higher than January's 3.7% reading which economists surveyed by Dow Jones had expected to remain unchanged in February.
Investors widely took the data as a sign that interest rate cuts from the Federal Reserve are on the table for this year. But when they will take place and how many cuts there will be in 2024 remains uncertain.before policymakers are convinced that rate cuts are appropriate. However, the Fed is still awaiting more evidence that the economy is easing and that inflation is moving toward the 2% target range.
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