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Treasury yields were little changed on Monday as investors awaited key jobs data and kept a cautious watch on what has been described as a fragile pause in hostilities between the United States and Iran.
The combination of a scheduled domestic data catalyst and an unresolved geopolitical flashpoint left the rates market largely directionless in the session.
Jobs Data Pins the Market in Place With significant employment figures on the horizon, investors appeared unwilling to establish directional positions in Treasuries ahead of the release.
Jobs data carries outsized weight for rates markets because labour market strength feeds directly into expectations for Federal Reserve policy — the mechanism through which bond prices and yields ultimately move.
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