11/3/2023, 2:01 PM (Source: TeleTrader)
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US Treasury yields fall again after new jobs data

United States Treasury yields dropped again on Friday as another jobs report seemingly provided evidence that the nation's labor market is cooling off and that it could lead to a further weakening of inflation.

Specifically, nonfarm employment grew at a slower-than-expected rate, with the unemployment rate reaching a nearly two-year high. In addition, the increase in average hourly earnings was the lowest since mid-2021.

The return on the 10-year Treasury note was down 11.7 basis points to 4.552% at 9:00 am ET. The yield on the two-year note decreased 9.7 basis points to 4.878% at the same time. The return on the 30-year bond dropped 9.6 basis points to 4.725% at 9:00 am ET.

Baha Breaking News (BBN) / MS