The 10-year Treasury yield is down by 1.7 bps to 4.131% on Monday ahead of several federal economic reports set to be released later this week. As a reminder, the 10-year Treasury yield moves in the opposite direction as its price.
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The data to watch out for are September’s nonfarm payrolls and unemployment rate, which will be published by the Bureau of Labor Statistics through its jobs report on Thursday at 8:30 a.m. Eastern Time. Treasury yields could fall if the data shows continued weakness in the labor market.
October FOMC Minutes to be Released on Thursday
The Fed will release its Federal Open Market Committee (FOMC) minutes from its October meeting on Thursday at 2:00 p.m. Eastern Time, potentially providing clues on their inflation outlook and their stance for a December rate cut. The 10-year yield holds an indirect relationship with the federal funds rate and more closely tracks expectations of inflation and economic health.
Treasury notes and bonds are seen as safe-haven assets and generally benefit during times of economic uncertainty.
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