FXStreet (Mumbai) – The yields on the short duration and long duration yields in the US inched moderately higher ahead of the monthly labor department report in the US, which could show sustained strength in the labor market.
The yield on the benchmark 10-year bond yield rose 3.1 basis points higher to 2.331%, while the 30-year yield rose 2.6 basis points to 3.059%. Meanwhile, 2-year yield, which is sensitive to the short-term interest rate expectations, rose 1.2 basis points to 0.673%.
The monthly non-farm payrolls due for release today at 12:30 PM GMT is likely to show the US economy added 225K jobs in May, after 223K job additions seen in April. Meanwhile, the average hourly earnings seen rising 0.2% month-on-month in May.
In the previous session, the yields on the long-end of the curve backed-off from eight-month peaks in line with a pullback in German bond yields. The rise in the yields seen today is also in-line with the uptick seen in the German yields.
(Market News Provided by FXstreet)