U.S. bond yields crept upwards Friday ahead of the September employment report.
What’s happening
-
The yield on the 2-year Treasury
BX:TMUBMUSD02Y
was 5.05%, up 2.9 basis points. -
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 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.
See: U.S. jobs report forecast: 170,000 new workers and 3.7% unemployment
“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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