10-year Treasury yield falls slightly ahead of Friday's jobs report
Publishing timestamp: 2023-10-05 13:54:16
Summary
Treasury yields slipped as investors awaited the key jobs report to determine the path of monetary policy. The yield on the 10-year Treasury was down slightly, while the yield on the 30-year Treasury was nearly flat. The bond market reacted to the latest weekly jobless claims data, which showed a small increase in initial filings for unemployment benefits. The San Francisco Federal Reserve Bank President stated that if yields remain high, the Fed can leave rates on hold, but may need to increase rates if financial conditions ease or inflation remains elevated. Traders are looking for more clarity from Friday's U.S. jobs report, which is expected to show a slight decrease in job growth compared to the previous month. The report's findings could impact the Federal Reserve's decision on interest rate hikes. ADP's employment change report, published on Wednesday, showed a significant slowdown in private job growth in September.
Sentiment: NEUTRAL
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Source: https://www.cnbc.com/2023/10/05/us-treasurys-investors-consider-state-of-the-economy-.html