Treasury yields rose as the market prepares for key economic indicators this week, notably the U.S. producer price index (PPI) for August, expected to show a 0.4% increase. The 10-year Treasury note yield climbed to 4.8063%, while the 30-year bond yield reached 5.2708%. The 2-year Treasury yield remained unchanged at 4.3810%.
This uptick in yields follows strong nonfarm payroll data from August, which reported an addition of 162,000 jobs, significantly surpassing the expected 53,000. The Federal Open Market Committee's upcoming meeting on September 15-16 is likely to be influenced by these developments.
Additionally, rising energy prices, with Brent crude nearing $100 per barrel due to geopolitical tensions, are contributing to inflation concerns, further impacting market sentiment