The benchmark U.S. 10-year Treasury yield edged lower on Tuesday as investors await data that will offer insights about the strength of the U.S. economy.
The 10-year Treasury yield added 2 basis point to 4.215% while the yield on the 2-year Treasury dipped 1 basis point to trade at 4.19%.
Yields and prices move in opposite directions, and one basis point equals 0.01%.
Economic data released on Tuesday morning showed that job openings were higher in October compared to September. 7.74 million job openings were posted last month, beating the Dow Jones estimate of 7.5 million.
Investors will also scrutinize comments from Fed Governor Adriana Kugler and Chicago Fed President Austan Goolsbee on Tuesday for hints on interest rate policy.
The week’s major economic release is the November jobs report, which will be published on Friday and is expected to show that the U.S. economy added 214,000 jobs last month, according to economists polled by Dow Jones, up from 12,000 jobs in October. The unemployment rate is expected to land at 4.2%, per Dow Jones. That’s up from 4.1% in the prior month.
The jobs report is important for investors as it will be the last major look at the labor market before the Fed’s Dec. 17-18 meeting, where it will decide on how much to cut interest rates.
— CNBC’s Sawdah Bhaimiya contributed to this report.
