Treasury yields edge lower after figures show net decline in jobs in October and November

One basis point equals 0.01%, and yields move in inversely to prices.

Treasury yields edged down after delayed jobs figures showed a net loss over the past two months. Nonfarm payrolls for November came in at 64,000. But an abbreviated October count that was released in the same report showed payrolls sank 105,000 that month.

The Federal Reserve "is unlikely to put much weight on today's report given data disruptions," said Kay Haigh, global co-head of fixed income at Goldman Sachs Asset Management. "Chair [Jerome] Powell commented last week that the report would likely be affected by shutdown-related distortions, making it a less reliable gauge of the labor market's health than usual. The report on December's employment data, released in early January ahead of the next meeting, will likely be a much more meaningful indicator for the Fed when it comes to deciding the near-term policy trajectory."

Another key event this week is the release of the November Consumer Price Index report on Thursday, which is expected to show that overall inflation rose to 3.1% year-over-year. Thursday will also bring the latest weekly numbers for the number of new applicants claiming unemployment insurance.