Treasury yields tick higher as traders look ahead to more economic data releases

Treasury yields moved higher as investors look ahead to more key economic data releases this week, including wholesale inflation data, as rising energy costs weigh on markets.The key 10-year Treasury note yield — the benchmark for mortgages, auto loans and credit — was more than 2 basis point higher at 4.8063%.The longer-dated 30-year bond yield, which often moves in line with geopolitical events, also rose 2 basis point to 5.2708%.The yield on the 2-year Treasury note, which are more sensitive to short-term Federal Reserve rate decisions, was flat at 4.3810%. One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.The rise in borrowing costs comes as markets reopen for trade following the extended Labor Day holiday weekend, with investors looking ahead to more domestic economic data releases this week. The monthly U.S. producer price inflation print for August, due Thursday, is forecast to show a rise of 0.4%. U.S. PPI, a measure of wholesale costs of goods and services and a key gauge of underlying inflation pressures, was unchanged in July.Borrowing costs moved higher on Friday following August's blowout nonfarm payrolls data, which sa...