On Thursday, the bond market resumed trading following the Veterans Day closure, with U.S. Treasury yields drifting slightly upward.
Investors are looking ahead to upcoming inflation and housing figures to gauge the state of the economy and anticipate the Federal Reserve's next policy moves.
The 10-year Treasury yield, which serves as a benchmark for mortgage rates, auto loans, and credit card debt, climbed 2 basis points to 5.0100%.
The 2-year Treasury yield, which is more attuned to the Federal Reserve's short-term rate decisions, rose 5 basis points to 4.7800%.
The long-dated 30-year Treasury yield, which is sensitive to geopolitical developments, held steady at 5.3503%.
A single basis point equals 0.01%; yields and bond prices move in opposite directions.
Instrument Quotes Link Yield Change U.S. 10-Year Treasury US10Y 4.992% +0.003 U.S. 1-Month Treasury US1M 3.97% +0.028 U.S. 1-Year Treasury US1Y 4.566% +0.027 U.S. 2-Year Treasury US2Y 4.757% +0.03 U.S. 30-Year Treasury US30Y 5.338% -0.011 U.S. 3-Month Treasury US3M 4.244% +0.02 U.S. 6-Month Treasury US6M 4.419% +0.005
As yields rose, traders were awaiting additional domestic economic data releases this week for further insight into the current state of the U.S. economy.
On Friday, the latest monthly Producer Price Index (PPI), which measures wholesale-level inflation, is due. Market expectations point to a 0.4% month-over-month increase for October, a sharp slowdown from the 1.3% recorded in September.
Before that, investors will watch the October existing home sales report from the National Association of Realtors later on Thursday. Trading Economics forecasts show existing home sales rose 1.5% month-over-month in September to 3.99 million units, recovering from a two-year low the prior month; October sales are projected to reach 4 million units.
In early trading, oil prices were broadly flat, with Middle East-related negotiations still deadlocked. U.S. WTI crude rose less than 0.1% to $86.59 per barrel; Brent crude gained 0.17% to $92.92 per barrel.