U.S. Treasury yields climbed on Monday as investors weighed the state of the economy and awaited key inflation data due later in the week.
, which was published Friday, showed that nonfarm payrolls increased by 187,000 during the month, below the 200,000 economists previously surveyed by Dow Jones had expected.
Average hourly earnings climbed 0.4% on a monthly and 4.4% on an annual basis, which was slightly above the previously estimated 0.3% and 4.2%.to many analysts and investors that despite some signs of easing, the labor market continues to be resilient even after a series of interest rate hikes from the Federal Reserve.
The central bank has implemented 11 rate increases since early 2022 in an effort to cool the economy, including the labor market, and push inflation lower. At its most recent meeting in July, the Fed hiked rates by 25 basis points and left the door open to raise rates further or keep them steady. Economic data would be key in such decisions, policymakers have repeatedly said in the last few months.
Key inflation data in the form of the consumer and producer price index reports are due later this week and will provide clues about whether the Fed's policy measures are having the desired effect and what the central bank may do next.
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