10-year Treasury yield back above 1.6% to start the week


The 10-year U.S. Treasury yield climbed back above the 1.6% mark to start the trading week.

The yield on the benchmark 10-year Treasury note rose by 3 basis points to 1.609% at 4:30 a.m. ET. The yield on the 30-year Treasury bond climbed less than a basis point to 2.058%. Yields move inversely to prices and 1 basis point is equal to 0.01%.

The 10-year rate was on the rise on Friday, topping 1.57%, after data showed that retail sales rose by 0.7% in September, versus an expected decline of 0.2%.

On Monday, the October National Association of Home Builders housing market index is due to come out at 10 a.m. ET.

Prior to that, Federal Reserve Governor Randal Quarles is due to speak at the Banco de España Conference on Financial Stability at 5:30 a.m. ET.

Auctions are scheduled to be held on Monday for $48 billion of 13-week bills and $45 billion of 26-week bills.

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