U.S. Treasury yields started the week higher, ahead of the release of purchasing managers’ index data.

The yield on the benchmark 10-year Treasury note rose less than a basis point to 1.242% at 3:30 a.m. ET. The yield on the 30-year Treasury bond added 2 basis points, advancing to 1.916%. Yields move inversely to prices. One basis point equals 0.01%.

TREASURYS
TICKER COMPANY YIELD CHANGE %CHANGE
US3M U.S. 3 Month Treasury 0.066 0.02 0.00
US1Y U.S. 1 Year Treasury 0.074 0.008 0.00
US2Y U.S. 2 Year Treasury 0.182 -0.006 0.00
US5Y U.S. 5 Year Treasury 0.69 -0.013 0.00
US10Y U.S. 10 Year Treasury 1.234 -0.005 0.00
US30Y U.S. 30 Year Treasury 1.909 0.015 0.00

Markit is set to release its final manufacturing PMI for July at 9:45 a.m. ET on Monday, followed by ISM’s PMI for last month at 10 a.m. ET.

U.S. construction spending data for June is due to be released at 10 a.m. ET.

Concerns about inflation also plagued the market, however, a key inflation indicator showed lesser-than-feared price pressures on Friday. The core personal consumption expenditures price index rose 3.5% in June year over year. It marked a sharp acceleration in inflation, but came in slightly below a Dow Jones forecast of a 3.6% jump.

Meanwhile, Minneapolis Federal Reserve President Neel Kashkari told CBS’ “Face the Nation” on Sunday that the nervousness around the delta variant could slow the recovery of the U.S. labor market.

Both inflation and employment are economic indicators being watched by the Fed, as a signal to when it should start talking about tightening monetary policy.

Auctions are due to be held on Monday for $54 billion of 13-week bills and $51 billion of 26-week bills.