Bond yields rise before U.S. jobs data

Posted by By News Room 1 Min Read

Bond yields crept upwards Friday ahead of pivotal jobs data.

What’s happening

  • The yield on the 2-year Treasury
    BX:TMUBMUSD02Y
    was 5.05%, up 2.9 basis points. Yields move in the opposite direction to prices.

  • The yield on the 10-year Treasury
    BX:TMUBMUSD10Y
    was 4.74%, up 3.1 basis points.

  • The yield on the 30-year Treasury
    BX:TMUBMUSD30Y
    was 4.91%, up 2.5 basis points.

What’s driving markets

The crucial U.S. jobs report is due for release at 8:30 a.m. Eastern, with expectations for a 170,000 rise in payrolls and an unemployment rate of 3.7%. It’s the last jobs report before the Fed’s next interest-rate decision.

“A strong payroll print (net of revisions) would likely continue to push rates higher, but a weaker reading could halt the selloff,” said analysts at TD Securities.

Through Thursday, the yield on the 10-year Treasury has climbed 89 basis points this year, and the yield on the 30-year has jumped 95 basis points.

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