10-year Treasury yield jumps as unemployment rate unexpectedly declines
Publishing timestamp: 2023-12-08 09:46:56
Summary
The November jobs report showed a lower than expected unemployment rate, indicating a tight labor market despite the Federal Reserve's efforts to cool the economy. Treasury yields jumped as a result. The report also showed a higher than expected increase in nonfarm payrolls. Some investors are hoping for economic data that signals an easing of the economy, which could lead to a potential end to the Fed's rate-hiking cycle. However, Fed Chairman Jerome Powell has stated that speculating about rate cuts is premature. The Fed is expected to keep interest rates unchanged at their upcoming meeting.
Sentiment: MIXED
Keywords: federal reserve bank, markets, monetary policy, u.s. 2 year treasury, economic events, personnel, united states, prices, u.s. 10 year treasury, labor economy, bonds, economy, central banking, breaking news: markets, u.s. economy, interest rates, business news,
Source: https://www.cnbc.com/2023/12/08/us-treasury-yields-investors-look-to-us-jobs-report.html