Treasury yields fell sharply after a weaker-than-expected reading for May's nonfarm payrolls report spurred expectations for the Federal Reserve to cut rates...
Treasury yields fell sharply after a weaker-than-expected reading for May's nonfarm payrolls report spurred expectations for the Federal Reserve to cut rates this year. The 10-year Treasury note yield TMUBMUSD10Y, -2.86% fell 3.9 basis points to 2.084%, pushing below its lowest close in 21-months. The 2-year note yield TMUBMUSD02Y, -5.18% slipped 6 basis points to 1.781%. The 30-year bond yield TMUBMUSD30Y, -1.
66% was down 3 basis points to 2.591%. The U.S. economy added 75,000 jobs in May, down from a 263,000 increase in April. Economists polled by MarketWatch had anticipated jobs gain of 180,000 in May. Average hourly earnings rose 0.2%, while the unemployment rate held steady at 3.6%, close to a 50-year low. Traders in the fed fund futures market expect the central bank to cut rates at least once by the end of this year.
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