10-year Treasury yield edges further above 3% as inflation outlook remains in focus after April jobs data

Most Treasury yields moved higher early Friday as investors continued to assess the inflation outlook following the release of April’s U.S. jobs data.

What are yields doing?
  • The yield on the 10-year Treasury note
    TMUBMUSD10Y,
    3.059%
    was at 3.104%, up from 3.066% at 3 p.m. Eastern, which was its highest since Nov. 26, 2018.

  • The 2-year Treasury note yield
    TMUBMUSD02Y,
    2.651%
    was 2.688%, down from 2.722% Thursday afternoon.

  • The yield on the 30-year Treasury bond
    TMUBMUSD30Y,
    3.160%
    pushed up to 3.187% from 3.159% late Thursday, which was its highest since Dec. 13, 2018.

What’s driving the market?

Data released on Friday showed that the U.S. added a solid 428,000 new jobs in April, but an acute labor shortage showed little improvement last month and threatens to contribute to the highest inflation in 40 years. Economists surveyed by The Wall Street Journal had expected nonfarm payrolls to rise by 400,000.

The unemployment rate was unchanged at 3.6%, and hourly pay rose sharply — putting the increase in the past 12 months at 5.5%.


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