US bond traders will focus on this week’s announcement of the Treasury Department’s borrowing plans for the next three months, an array of Federal Reserve speakers and a loaded calendar of economic releases crowned by monthly employment data.

Treasury yields are near the upper end of their range of recent weeks, with crude oil prices not far from a four-year peak and economic data pointing to a resilient US economy. With the Middle East conflict keeping energy costs elevated and sparking inflation concerns, the bond market has essentially priced out interest-rate cuts for this year, and options traders have even begun to lean toward potential tightening in 2027.