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Monday, December 6th, 2021

Treasury yields climb as investors digest higher inflation prints

Bonds yields rose on Tuesday, as investors digested last week’s inflation data and look ahead to Friday’s all-important jobs report.

The yield on the benchmark 10-year Treasury note ticked up to 1.62% shortly before 8 a.m. ET, while the yield on the 30-year Treasury bond rose to 2.301%. Yields move inversely to prices.

TREASURYS

TICKER COMPANY YIELD CHANGE %CHANGE
US10Y U.S. 10 Year Treasury 1.622 0.029 0.00
US1Y U.S. 1 Year Treasury 0.046 0.003 0.00
US2Y U.S. 2 Year Treasury 0.147 0.002 0.00
US30Y U.S. 30 Year Treasury 2.307 0.036 0.00
US3M U.S. 3 Month Treasury 0.015 0.002 0.00
US5Y U.S. 5 Year Treasury 0.814 0.014 0.00

 

Inflation is even more in focus since the release of April’s core personal consumption expenditures price index last week, a key measure of inflation, which rose 3.1% — hotter than expected. Gold, which often is used as an inflation hedge, is still holding above a key level of $1,900.

ISM manufacturing new orders, prices and employment for May are due Tuesday, as well as May’s Dallas Fed Manufacturing Index. Formerly known as the Purchasing Manager’s Index (PMI), the ISM index tracks month-on-month shifts in output rates.

Looking ahead, investors are also eyeing Friday’s jobs report. Economists expect the data to show the creation of around 674,000 jobs in the month of May, after April’s read came in below expectations at 266,000.

On Tuesday, Federal Reserve Governor Lael Brainard will be delivering a speech on economic and monetary policy outlook in a webinar for the Economic Club of New York at 2 p.m. ET. Fed Vice Chair Randal Quarles will also be speaking at a virtual event for Politico on the economy and financial regulation, at 10 a.m. ET.

Inflation is even more in focus since the release of April’s core personal consumption expenditures price index last week, a key measure of inflation, which rose 3.1% — hotter than expected. Gold, which often is used as an inflation hedge, is still holding above a key level of $1,900.

ISM manufacturing new orders, prices and employment for May are due Tuesday, as well as May’s Dallas Fed Manufacturing Index. Formerly known as the Purchasing Manager’s Index (PMI), the ISM index tracks month-on-month shifts in output rates.

Looking ahead, investors are also eyeing Friday’s jobs report. Economists expect the data to show the creation of around 674,000 jobs in the month of May, after April’s read came in below expectations at 266,000.

On Tuesday, Federal Reserve Governor Lael Brainard will be delivering a speech on economic and monetary policy outlook in a webinar for the Economic Club of New York at 2 p.m. ET. Fed Vice Chair Randal Quarles will also be speaking at a virtual event for Politico on the economy and financial regulation, at 10 a.m. ET.

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