U.S. Treasury yields jump to highest levels since November 2023 Latest employment data The performance was stronger than economists forecast.
this 10-Year Treasury Bond The yield increased nearly six basis points to 4.745%. this 2-Year Treasury Bond It surged more than 10 basis points to 4.369%.
1 basis point is equal to 0.01%, and the yield and price movements are opposite.
Nonfarm payrolls data for December showed job growth was much stronger than expected. Nonfarm payrolls surged by 256,000 this month, up from 212,000 in November. Bureau of Labor Statistics reported on Friday. At the same time, economists Job growth is expected to increase by 155,000 jobs According to Dow Jones, in December.
The unemployment rate edged down to 4.1%, one-tenth of a point lower than expected.
Strong labor market data makes it less likely that the Federal Reserve will cut interest rates at its upcoming policy meeting later this month. Federal funds futures trading data currently points to less than a 3% chance of a rate cut at the next meeting.
Fed meeting minutes December data released on Wednesday showed officials were worried about inflation and the impact of President-elect Donald Trump’s policies and said they would be slower to cut interest rates in 2025.
