The following were the yield and basis point (bp) movements of some of the most-watched 10-year bonds this afternoon:
US: 2.60% (+3bp)
UK: 2.74% (+2bp)
Germany: 1.84% (+1bp)
France: 2.36% (+2bp)
Spain: 4.25% (-1bp)
Italy: 4.16% (+0bp)
Japan: 0.63% (+1bp)
Portugal: 6.28% (+0bp)
Greece: 8.39% (+4bp)
Government bond yields in most developed countries headed higher on Monday, ahead of the release, tomorrow, of the delayed September US non-farm payrolls data.
Of potential interest, where as many observers now seem to be giving short shrift to the idea that the Fed might proceed with a December start to tapering economists at Capital Economics were less sure.
"[...] we are less sure. By that time, Fed officials will have plenty of data showing not only what impact the shut-down had but also how well the economy bounced back in November," they explained.
To justify their view they explain how in their view the recovery was gathering pace before the shut-down. Neither are they convinced that the new uncertainty created by the short-term fix to raise the debt ceiling will necessarily stay the Fed's hand in December.
The yields on offer at Monday's auction of $65bn in three and six-month T-bills fell notably - by almost half - from the last time around.
Acting as a backdrop, speaking on CNBC the President of the Federal Reserve bank of Chicago, Charles Evans, indicated that it will probably take "a few" months before the Fed can ascertain whether the economy is strong enough to warrant the central bank starting to taper its purchases of fixed income securities.
The biggest rally in five years in California debt has some investors balking on concern that the state's finances are increasingly vulnerable to swings in the economy and tax revenue, Bloomberg reported.
Existing home sales in the United States fell by 1.9% month-on-month in September, to reach an annualised rate of 5.29m, just below the 5.30m forecast. The previous month's estimate was revised lower, to show a reading of 5.39m, instead of the 5.48m initially estimated.
The Netherlands saw a large fall in bid-to-cover ratios at an auction of €3.4bn in three and six-month T-bills on Monday morning.
Italian industrial production expanded at a 2.0% month-on-month pace in August, versus a forecast increase of just 0.5%.
Prices in the UK capital rose 10.2% or £50,484 to an average £544,232 in October while average prices in England and Wales climbed 2.8% to £252,418, rebounding from a 1.5% decline in September, according to property website Rightmove.
Lastly, in an interview with SkyNews, on Sunday, Monetary Policy Committee member Ben Broadbent said that the primary objective remains low inflation. The Bank wants to ensure that the recovery does not get choked off by a premature rate hike, he said.