Yields for U.S. government debt were on the rise Monday morning, after the 10 and 30-year Treasurys last week fell to the lowest rates in months, amid market unrest fueled by the emergent omicron variant of the coronavirus that causes COVID-19.
Concerns about the Fed making a tactical error in its newfound war against punchy inflation, which could result in the economy falling into a recession, remains one of the chief fears of bearish investors. The Fed is currently in a media blackout until the conclusion of its two-day policy gathering on Dec. 15.
Markets wobbled on Friday as the November nonfarm payrolls report showed a weaker-than-expected 210,000 jobs created in the month. The report was viewed as unlikely to knock the central bank from its more hawkish stance because the it contained sufficient pockets of strength to warrant tapering, setting the stage for eventual rate hikes in 2022.
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