Economy
US Treasury yields rebound after weak September jobs report
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THE BRIEF
1
US Treasury yields reversed earlier declines and rose on Friday as investors digested a weaker-than-expected September jobs report that tempered expectations for Federal Reserve interest rate hikes.
2
The US Department of Labor reported that nonfarm payrolls increased by 29,000 jobs in September against economist expectations for 90,000, while the unemployment rate ticked up to 4.2%.
3
The benchmark 10-year Treasury yield rose 4.75 basis points to 5.281% and was on track for its fifth consecutive weekly gain, while 2-year note yields rose to 4.827%.