U.S. Treasury yields moved higher Monday morning as investors weighed the latest news coming out of the Middle East and awaited a fresh batch of economic news on the labor market later this week.
The 2-year Treasury yield moved up 3.7 basis points to 3.925% while the benchmark 10-year note moved up 3.2 basis points to 4.41% as of 6:53 a.m. ET. A basis point equals 0.01 percentage point.
Fixed income yields rose following conflicting reports out of the vital Strait of Hormuz shipping channel.
Iranian media reported that it had fired on a U.S. warship in the area, though a U.S. official quoted by Axios denied the report. Stock market futures slipped off the report but were off their lows, while oil prices climbed but came off earlier highs.
As the latest events in the Middle East hit markets, traders also awaited a data later in this week that will provide more clues on the muddy U.S. jobs picture.
