US Treasury yields rise ahead of key Fed remarks

U.S. government debt yields held steady on Monday after the Labor Department reported the latest employment data on Friday.

The yield on the benchmark 10-year Treasury note was higher at around 2.952 percent at 4:51 p.m. ET, while the yield on the 30-year Treasury bond was higher at 3.124 percent. Bond yields move inversely to prices.


On Friday, the Labor Department reported that the economy added 164,000 jobs in the month of April, lower than the 195,000 expected by economists polled by Reuters. Average hourly earnings growth also missed, rising only 0.15 percent against expectations of a 0.2 percent gain.

"Perhaps it's just us, but the wage figures on Friday were disappointing from a broader perspective and it appears the market is content to ignore the implications," wrote Aaron Kohli, interest rate strategist BMO Capital Markets.

"Given the number of times we've come across the word 'goldilocks' as it relates to the current state of market equilibrium, we find ourselves cautious of a potential breakout," he added.