
The 10-year Treasury yield touched a fresh 14-month high as investors looked ahead to key inflation prints.
The yield on the 10-year Treasury was last up around 2 basis points at 4.79%, the highest level since Nov. 1, 2023. This followed the 10-year Treasury yield's jump on Friday following a hotter-than-expected jobs report. The 2-year Treasury yield was marginally lower at 4.392%.
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One basis point is equal to 0.01%. Yields and prices move in opposite directions.
Global bond yields are climbing, as traders broadly anticipate a slower pace of interest rate cuts this year.
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That is being led by expectations that the U.S. Federal Reserve will act with caution, amid signs of both potential economic strength and uncertainty delivered by the policies of President-elect Donald Trump.
Data released Friday showed nonfarm payrolls grew by 256,00 in December, up from 212,00 in November and above a forecast of 155,000 jobs.
Attention now turns to inflation data, with the producer price index report expected on Tuesday and the consumer price index due out on Wednesday.