U.S. Treasury yields started the week lower on Monday as investors looked ahead to several economic data reports this week, which will offer insight into the state of the U.S. economy.
At 5:48 a.m. ET, the benchmark 10-year Treasury yield dipped over 2 basis points to 4.166%, and the two-year Treasury yield also fell less 2 basis points to 3.509%. The 30-year Treasury bond yield was lower by nearly 3 basis points to 4.829%.
One basis point is equivalent to 0.01%, and yields and prices move in opposite directions.
Investors are anticipating a slew of economic data this week, with Tuesday bringing the October and November nonfarm payrolls report, which were delayed due to the historic 43-day U.S. government shutdown. Those will be followed by the October retail sales figures and the unemployment rate for November.
The highlight of the week will be the release of key inflation data on Thursday, the consumer price index report for November. It is expected to show that headline inflation increased to 3.1% on a yearly basis in November, according to FactSet consensus estimates. Core inflation, which excludes volatile food and energy prices, is forecast to also come in at 3.1%.
Weekly initial jobless claims are also due on Thursday, with November’s existing home sales data set to be released on Friday.