The U.S. Treasury bond yields are rising, and the curve is steepening.

The US Treasury yield continued to rise in the early session in Europe, dragged down by long bonds ahead of the Federal Reserve's interest rate meeting on Wednesday. Pimco economist Tiffany Welling said in a report that the latest job data in the US is restraining the Federal Reserve, and it is expected that the Fed will not cut rates until later this year. Once data shows a significant slowdown or contraction in the labor market, rate cuts will occur.