On Monday, U.S. Treasury yields showed minimal movement, with the 10-year yield at 4.376% and the 2-year yield at 4.102%. The bond market is particularly focused on upcoming labor market reports, including May's JOLTS job openings data on Tuesday and the June nonfarm payrolls report on Thursday, which are expected to provide insights into the U.S. economy's health.
Additionally, a fragile pause in hostilities between the U.S. and Iran has been established, allowing for the free passage of commercial vessels through the Strait of Hormuz, following recent military clashes. This geopolitical development, along with the labor data, could impact market dynamics.
Oil prices have seen a slight increase, with West Texas Intermediate futures rising to $69.59 a barrel and International Brent at $72 a barrel, reflecting potential market reactions to both economic indicators and geopolitical tensions