U.S. Treasury yields edged lower at the start of the week as investors looked ahead to a busy week of economic data. The 10-year Treasury yield declined just over 1 basis point, with the 30-year bond similarly falling 1 basis point, while the 2-year note remained near flat. A softer-than-expected July nonfarm payrolls report weakened expectations for Federal Reserve interest rate hikes. Traders are now pricing in a nearly 44% chance of a rate increase at the September meeting, down from 67% a week prior. Core inflation data for July, due Wednesday, will be closely watched for clues on the Fed’s next policy move.
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