U.S. Treasury yields were higher on Monday as investors awaited key economic data due this week and digested the latest inflation insights.
At 3:23 a.m. ET, the yield on the 10-year Treasury was up by over five basis points to 4.4000%. The 2-year Treasury yield was last more than two basis points higher to 4.7453%.
Yields and prices move in opposite directions and one basis point equals 0.01%.
Investors considered the latest economic data and looked ahead to insights from the labor market expected this week.
On Friday, the personal consumption expenditures price index showed that inflation slowed to its lowest annual rate in over three years in May. So-called core PCE, which excludes food and energy, rose by a seasonally adjusted 0.1% on a monthly basis in May and 2.6% from a year earlier, which was in line with previous Dow Jones estimates.
Headline inflation including food and energy was flat from the previous month and increased 2.6%…
