As investors anticipate economic data and Fed speeches, the 10-year Treasury yield rises.
On Tuesday, the U.S. 10-year Treasury yield increased slightly as investors anticipate economic data that will provide insights into the country's economic strength.
The 10-year Treasury yield increased by 2 basis points to 4.213%, while the yield on the 2-year Treasury decreased by 1 basis point to 4.184%.
Prices and yields move in opposite directions, with one basis point equal to 0.01%.
On Tuesday morning, market participants will closely watch the Labor Department's Job Openings and Labor Turnover Survey for October, which will be released at 10 a.m. ET. The report will offer estimates on the number of job openings, hires, layoffs, and quits.
On Tuesday, investors will closely examine the remarks of Fed Governor Adriana Kugler and Chicago Fed President Austan Goolsbee for indications of interest rate policy.
The November jobs report, which is set to be released on Friday, is predicted to reveal that the U.S. economy added 214,000 jobs in October, according to a poll of economists by Dow Jones. This is an increase from the 12,000 jobs added in September. The unemployment rate is expected to be 4.2%, up from 4.1% in the previous month.
The upcoming jobs report is crucial for investors because it will serve as the final significant assessment of the labor market prior to the Fed's Dec. 17-18 meeting, at which it will determine the extent of interest rate cuts.
— CNBC's Sawdah Bhaimiya contributed to this report.
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