U.S. Treasury yields were slightly higher early Monday as investors assessed future moves from the Federal Reserve following Friday's bumper jobs report.
The 10-year Treasury yield was up by under a basis point at 3.984%, while the yield on the 2-year Treasury was over 3 basis points higher at 3.968%.
Yields move inversely to prices. One basis point equals 0.01%.
Treasury yields jumped on Friday as investors digested a better-than-expected September jobs report.
Nonfarm payrolls grew by 254,000 in September, well ahead of the 150,000 estimated by economists polled by Dow Jones.
The robust print signals the strength of the economy and suggests that the Federal Reserve may progress with smaller rate reductions following its bumper 50-basis-point cut last month.
The CME Group's FedWatch tool indicates that traders are now pricing in an 91% chance of a quarter percentage point rate cut at the central bank's next meeting in November.
Money Report
Investors will now be looking for more indications on the path for rates, with speeches due Monday from Fed officials Neel Kashkari, Raphael Bostic, Michelle Bowman and Alberto Musalem.
Meanwhile, investors also continue to monitor the conflict in the Middle East and its impact on global markets as Israel marks the one-year anniversary of the Oct. 7 attacks.
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