US Treasury Yields Edge Higher as Traders Await More Economic Data

U.S. Treasury yields edged higher as investors waited for more key economic data this week, including wholesale inflation figures. According to Sina Finance, the 10-year Treasury yield rose more than 2 basis points to 4.8063%, the 30-year yield climbed 2 basis points to 5.2708%, and the 2-year yield was unchanged at 4.3810%. The article said borrowing costs increased after the Labor Day long weekend, with investors also watching Thursday's U.S. August producer price inflation data, which the market expects to rise 0.4% month on month. It added that August nonfarm payrolls, released last Friday, came in at 162,000, well above the market consensus of about 53,000, and that the Federal Open Market Committee will hold its policy meeting on September 15-16. Energy prices also moved higher. Brent crude futures approached the $100-a-barrel level in early Tuesday trading, while West Texas Intermediate futures rose more than 3% to $94.20 a barrel and Brent gained 1.76% to $98.71 a barrel.