Treasury 2-year yield plunges 14 bps on soft jobs data - Breaking The News

Treasury 2-year yield plunges 14 bps on soft jobs data

1 August

1 min read

EPA/MICHAEL REYNOLDS

US Treasury yields fell sharply on Friday after the Labor Department reported only 73,000 nonfarm jobs added in July, well below the 106,000 expected by economists.

The disappointing payroll figures come amid rising downside risks flagged by policymakers. Earlier, Federal Reserve Governor Christopher Waller warned of "falling behind the curve" if labor market conditions continue to deteriorate. The new data could influence the Fed's stance ahead of its September meeting.

The 2-year Treasury yield dropped 13.8 basis points to 3.81% by 8:35 am ET, leading a broader bond rally. The 10-year yield fell 5.5 basis points to 4.31%, while the 30-year yield slipped 1.5 basis points to 4.87%.

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