US Treasury yields steady after jobs and labor data

U.S. government debt yields held steady on Tuesday after the Labor Department reported that the number of job openings held near historic highs.

The number of job openings edged down to 6.6 million on the last business day of May, the Bureau of Labor Statistics reported Tuesday, down from a revised April level of 6.8 million, a series high.

The latest report on the labor situation comes shortly after the Department of Labor reported Friday that the economy added 213,000 jobs in June, yet another indication the labor market is at or beyond full employment.

Meanwhile, tepid wage growth has Wall Street wondering whether the Federal Reserve's current path for interest rate hikes may be too aggressive. Average hourly earnings increased just 0.2 percent month over month, falling short of expectations.

The yield on the benchmark 10-year Treasury note was up at 2.869 percent at 2:35 p.m. ET, while the yield on the 30-year Treasury bond was higher at 2.968 percent. Bond yields move inversely to prices.

US 10-YR
US 30-YR

Investors will be awaiting any news surrounding trade, after the U.S. and China exchanged tariffs of $34 billion on one another last Friday. As President Donald Trump heads to Europe this week, investors will be watching the interactions the U.S. incumbent has with European leaders. On Wednesday and Thursday, Trump will be in Brussels attending a NATO meeting, before he heads to the U.K. to meet with the British Prime Minister Theresa May.

Monday night saw Trump reveal his nominee pick for Supreme Court justice. Brett Kavanaugh, a federal appeals court judge, will succeed Justice Anthony M. Kennedy.