Treasury yields tumble after October payrolls report misses expectations
Publishing timestamp: 2023-11-03 10:18:34
Summary
The article discusses how U.S. Treasury yields pulled back after employment data came in cooler than expected. The 2-year Treasury yield slid by more than 8 basis points, while the 10-year Treasury yield was down by 13 basis points. Nonfarm payrolls increased by 150,000 in October, slightly below economists' expectations. The unemployment rate rose to 3.9%, and average hourly earnings increased by 0.2% on the month. The article also mentions that investors are looking for data suggesting an easing of the jobs market, which could indicate that the Federal Reserve's monetary policy approach is having the desired effect.
Sentiment: NEUTRAL
Keywords: business news, federal reserve bank, central banking, labor economy, medium term notes, government debt, u.s. economy, treasury bills, economy, economic events, jobs, prices, interest rates, jerome powell, u.s. 10 year treasury, economic outlook, bonds, u.s. 2 year treasury, u.s. treasury bonds, treasury notes,
Source: https://www.cnbc.com/2023/11/03/us-treasury-yields-investors-look-to-key-jobs-data.html