Treasury yields inched higher early Monday as the holiday-shortened trading week began.
The yield on the 10-year Treasury was 2 basis points higher at 4.546%, while the 2-year Treasury was up 1 basis point at 4.330%.
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WATCH HEREOne basis point is equal to 0.01% and yields and prices move in opposite directions.
Orders for durable goods — generally big-ticket items such as aircraft, appliances and computers — fell 1.1% in November, the largest month over month drop since June, according to preliminary data from the U.S. Department of Commerce. This followed a 0.8% increase in October.
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Also on the data front, the Conference Board's consumer confidence index for December fell to 104.7, compared to a Dow Jones estimate of 113.0.
The 10-year yield jumped 13 basis points last week after the Federal Reserve pared down rate-cut projections, indicating only two more interest rate cuts lie ahead in 2025, down from four potential cuts that had been signaled in September.
Yields cooled a bit Friday after the November personal consumption expenditures price index, the Fed's preferred measure of inflation, came in slightly below expectations.
Money Report
Traders are also digesting news from over the weekend that a U.S. government shutdown was narrowly averted.
U.S. markets close early Tuesday and are shuttered Wednesday for the Christmas holiday.
