U.S. Treasury yields move higher as investors await busy week of economic data

U.S. Treasury yields were up to begin the week as investors looked ahead to a flurry of economic data, including the delayed January jobs report.

At 2:48 a.m. ET, the 10-year Treasury yield was up over 2 basis points to 4.231%, and the 30-year Treasury yield was 1 basis point higher at 4.874%. The 2-year Treasury note yield rose more than 1 basis point to 3.514%.

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

Investors are expecting a flurry of economic data this week, much of which was delayed due to the partial U.S. government shutdown. This includes the delayed nonfarm payrolls report for January, which was initially scheduled for last Friday, but which the Bureau of Labor Statistics will now release on Wednesday morning.

The report is forecasted to show a gain of 60,000 jobs for the month, after a 50,000 increase in December, per economists surveyed by Dow Jones. The unemployment rate is projected to hold steady at 4.4%.

The January consumer price index reading, also delayed by the shutdown, is due out on Friday morning.

In addition to these reports, investors will await retail sales for December on Tuesday and weekly initial jobless claims on Thursday.