Treasury yields little changed as investors look ahead to key jobs data

U.S. Treasury yields were little changed on Monday as investors looked ahead to key jobs data coming later in the week and monitored a fragile pause in hostilities between the U.S. and Iran.

At 3:50 a.m. ET, the benchmark 10-year Treasury yield rose less than a basis point to 4.376%, while the 2-year Treasury yield rose just over 1 basis point to 4.102%. Meanwhile, the 30-year bond yield declined less than one basis point to 4.861%.

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

Investors are anticipating upcoming labor market data during the holiday-shortened week. The bond market will be closed on Friday, 3 July, ahead of Independence Day celebrations.

May's JOLTS job openings data, which tracks how many jobs are available in the U.S., is set to be published on Tuesday morning. The June nonfarm payrolls report, which shows the number of jobs the U.S. economy added in the last month, is also due on Thursday. Investors will parse these reports closely to gauge the health of the U.S. economy.

Elsewhere, the U.S. and Iran agreed to pause hostilities and allow commercial vessels to freely pass through the Strait of Hormuz, following military clashes over the weekend that threatened to derail negotiations aimed at ending the conflict.

"Technical talks are slated to continue on all areas of the MOU," a U.S. official told CNBC on Sunday. "Both sides will stand down for now, and vessels can move freely."

Oil prices were up, with West Texas Intermediate futures rising 0.5% to $69.59 a barrel, while International Brent was up 0.08% to $72 a barrel.