Bund yields slipped and U.S. Treasury yields eased before Fed minutes, as investors tracked weak U.S. labor data, upcoming eurozone releases, oil supply changes and a NATO summit later in the week.
Eurozone government bond yields edged lower and U.S. Treasury yields were mixed to slightly lower early Monday as investors weighed softer U.S. labor data, a light but important eurozone data calendar, oil-market developments and geopolitical events ahead of Federal Reserve minutes. Germany’s 10-year Bund yield fell 0.8 basis points to 2.923%, while U.S. yields included a 2-year note around 4.108%-4.126%, a 10-year yield around 4.459%-4.472%, and a 30-year bond at 4.969% in early trading. The U.S. dollar index rose 0.2% as markets reopened after the holiday. Investors were also tracking OPEC+ plans to raise output, Brent crude just below $72 a barrel, recovering but still volatile Strait of Hormuz shipping, unresolved Middle East peace talks, and a NATO summit in Ankara, Turkey, for their implications for growth, inflation and interest-rate expectations.