U.S. Treasury Yields Pull Back on Soft June Payrolls, Fed Minutes in Focus

U.S. Treasury yields drifted lower on Monday as markets continued to digest softer-than-expected June nonfarm payrolls data, which showed the economy added only 57,000 jobs. This has led bond investors to recalibrate their near-term inflation and interest rate expectations ahead of Wednesday's Federal Reserve policy minutes. The 10-year Treasury note yield eased to around 4.45%, and the 2-year note moved down to 4.11%.