10-year Treasury yield rises following a January jobs report that surpassed expectations
U.S. Treasury Yields Climb Following Strong January Jobs Report
Yields on U.S. Treasury bonds increased after January's employment data revealed job creation far exceeding analysts' forecasts. The 10-year Treasury yield advanced by over 2 basis points to reach 4.174%. Meanwhile, the yield on the 2-year Treasury note jumped more than 5 basis points to 3.512%, signaling that investors are scaling back their expectations for Federal Reserve rate cuts this year. The 30-year Treasury yield also edged up by more than 2 basis points, settling at 4.814%. It's important to note that a single basis point equals 0.01%, and bond yields move inversely to their prices. In January, nonfarm payrolls increased by 130,000 jobs, significantly surpassing the consensus estimate of 55,000.
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