U.S. Treasury yields were higher on Monday as investors weighed the outlook for interest rates ahead of a week that will be light on the economic data front.
U.S. Treasury yields were higher on Monday as investors assessed the outlook for interest rates after Friday's jobs report ahead of a week that will be light on the economic data front., when the yield on the 10-year and 2-year Treasurys fell by as much as 9 and 13 basis points, respectively., which were released Friday, came in lower than expected at 150,000, fewer than the previous Dow Jones estimate of 170,000.
Friday's jobs report also showed a slight increase of the unemployment rate from 3.8%, which was also the forecast figure for October, to 3.9%. The data suggested to investors that the labor market could be easing, raising hopes that the Federal Reserve may not hike interest rates any further. Cooling the jobs market has been one of the central bank's key aims throughout the rate-hiking cycle that began in March 2022, alongside easing the overall economy and bringing down inflation.for the second time in a row last week, keeping them at the same level they have been at since July, but left the option for further rate increases open.
The coming week is light on the economic data front, with no key figures expected Monday. Several Fed officials are, however, expected to give remarks, including two speeches from Fed President Jerome Powell, which investors are hoping will provide fresh hints about the monetary policy and economic outlook.
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