The 10-year U.S. Treasury yield moved higher on Monday ahead of a series of key jobs data set to be published throughout the week.
The 10-year Treasury yield rose by nearly one basis point to 4.604%, while the 2-year Treasury dipped almost two basis points to 4.26%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
Investors are awaiting key jobs data to be published throughout another shortened trading week. The New York Stock Exchange will close trading on Thursday to observe a national day of mourning for the death of former President Jimmy Carter.
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They will also look to the JOLTS Job Opening data for November on Tuesday, a monthly survey showing the number of job vacancies in the United States. Economists are expecting 7.7 million job openings in November, according to Dow Jones.
Meanwhile, the ADP Employment Change report for December is due on Wednesday, a measure of the change in the number of people employed in the private sector in the U.S. It's expected to show that 130,000 jobs were added in December, per Dow Jones.
Finally on Friday, the nonfarm payrolls report will be released — one of the last key pieces of data to be published before the Fed meets again at the end of January. The report will show the number of people employed in the U.S. and is a major indicator of the health of the U.S. economy.
Money Report
The report is forecast to show that the U.S. added 155,000 jobs in December and the unemployment rate remained steady at 4.2%, per Dow Jones estimates.
