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US 10-year Treasury yield climbs to 5.307% on inflation concerns
The ISM Services PMI slipped to 54.9, and the report showed input prices rising even as services activity slowed.
US Treasury yields rose at the start of the week, with the 10-year yield climbing to 5.307% as inflation expectations increased, according to FXStreet.
FXStreet linked the move to a weakening US Institute for Supply Management Services survey, where the ISM Services PMI fell below estimates to 54.9 from 55.4, while the prices paid component indicated companies were reporting higher input costs.
The outlet also cited renewed global bond-market pressure tied to France’s fiscal crisis, which sent yields higher as investors worried about next year’s budget.
In commodities, FXStreet noted West Texas Intermediate crude fell more than 2% to $89.29, after the G7 agreed to release more than 100 million barrels of crude and diesel.
Latest closeWTI crude $89.31 ▼2.0%