U.S. Treasury yields were flat Monday, following big gains on the back of better-than-expected nonfarm payrolls data in the previous session.
The yield on the 2-year note yield rose slightly to 3.935%. The 10-year Treasury note yield dipped 1 basis point to 3.435%. Yields and prices move in opposite directions. One basis point equals 0.01%.
Yields surged Friday as data from the Bureau of Labor Statistics showed stronger-than-expected jobs growth in April even as markets grappled with the banking fallout.
The U.S. added 253,000 nonfarm payrolls in April, surpassing the 180,000 expected by Wall Street. The unemployment rate came in at 3.4%, below an estimate of 3.6%. A strong job market will make it less likely that the Federal Reserve will halt its aggressive tightening campaign, a policy shift that many on Wall Street had been hoping for.
Investor attention this week turns to April’s consumer price index due out Wednesday, followed by the producer price index on Thursday.
—CNBC’s Hakyung Kim contributed to this article.
