TREASURIES-Yields rise as inflation data, auctions eyed as next catalysts

(Updates prices; adds Kaplan, Daly comments) By Chuck Mikolajczak NEW YORK, May 10 (Reuters) - Longer-dated U.S. Treasury yields rose on Monday, reversing course in the session, as investors awaited data later this week on inflation and auctions that will bring a burst of supply to the market. Yields were whipsawed on Friday in the aftermath of much weaker-than-anticipated April jobs numbers, which showed nonfarm payrolls increased by only 266,000, well below the 770,000 reported for March and the 916,000 estimate. With investors closely watching for signs of higher prices, the Wednesday consumer price index release for April will be monitored as investors gauge if the U.S. Federal Reserve will begin to alter its stance on inflation. The central bank has repeatedly said it views any inflation that occurs to be transitory. Chicago Federal Reserve President Charles Evans said on Monday that inflation rates of 2.5% would not be a concern if they lead to an average of 2% over time. "That i