U.S. Treasury yields move lower as investors await housing, employment data

The benchmark 10-year Treasury yield was down 2 basis points to 5.114%, while the 30-year Treasury bond also fell 2 basis points to 5.45%. Meanwhile, the 2-year Treasury note yield was broadly flat at 4.757%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

Weekly initial jobless claims will be released on Thursday, and the S&P Global Composite PMI Flash will be out on Friday.

Investors are anticipating the Fed’s next interest rate decision, due next week. The latest figures for the Fed’s preferred inflation gauge, the personal consumption expenditures index, will also be released.

Traders are now pricing in an 82% chance of the Fed holding interest rates steady, according to the CME FedWatch Tool.