US government bond yields rise amid pressure on global debt — CNBC

In the United States, government bond yields rose on Monday amid renewed pressure on global sovereign debt markets, higher oil prices and inflation concerns. As CNBC reports, the yield on 10-year US Treasury notes gained more than 3 basis points to 5.219%.

The yield on 30-year US government bonds rose by 2 basis points to 5.529%, while that on two-year securities increased by more than 5 basis points to 4.916%. One basis point equals 0.01 percentage points; bond prices and their yields move in opposite directions.

Movements in global markets

Yields on government securities of other countries also mostly increased. The yield on 10-year UK bonds rose by 4 basis points to 5.408%. The yield on 10-year German Bunds, which serve as a benchmark for the eurozone debt market, stood at 3.6277%.

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Yields on 10-year government bonds of France and Japan rose by more than one basis point early on Monday. Investors continue to take into account concerns over global government debt and persistent inflation.

Oil and economic data

Trading in US government bonds was volatile last week: on Thursday, the yield on 10-year securities climbed to its highest level since June 2007, while the yield on 30-year securities reached levels not seen since 2004.

West Texas Intermediate oil futures rose by 4% on Monday to $96.13 per barrel. This week, markets are awaiting US nonfarm payrolls data, the unemployment rate, the core PCE index and quarterly GDP growth data. The August JOLTS report is also due to be released on Tuesday: the number of job openings is expected to decrease to 7.24 million from 7.27 million in July.