Market Snapshot
- The yield on the 2-year Treasury BX:TMUBMUSD02Y is at 5.05%, reflecting a 2.9 basis point increase. Remember, yields move in the opposite direction to prices.
- The yield on the 10-year Treasury BX:TMUBMUSD10Y is at 4.74%, showing a 3.1 basis point rise.
- The yield on the 30-year Treasury BX:TMUBMUSD30Y stands at 4.91%, marking a 2.5 basis point increase.
What’s Affecting the Markets?
As investors await the crucial U.S. jobs report, pressure mounts on bond yields. The report is scheduled to be released at 8:30 a.m. Eastern. Analysts predict a rise of 170,000 in payrolls, with an unemployment rate of 3.7%. This jobs report will serve as a key factor in the Federal Reserve’s upcoming interest-rate decision.
According to analysts at TD Securities, “A strong payroll print (net of revisions) would likely continue to push rates higher, but a weaker reading could halt the selloff.”
In a broader context, the yield on the 10-year Treasury has already climbed 89 basis points this year, while the yield on the 30-year Treasury has experienced a substantial jump of 95 basis points.
Keep an eye on this space for updates as more information becomes available.
