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Published 18:35 IST, September 6th 2024

US yields fall as job gains miss expectations

US 10-year Treasury yields fell as low as 3.657%, the lowest since June 2023.

Reported by: Thomson Reuters
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Bond yields hold steady as traders await fresh triggers
Representative | Image: Republic World

Benchmark 10-year Treasury yields fell to a 15-month low on Friday after August's payrolls report showed employers added fewer jobs than economists had anticipated, while the unemployment rate eased in line with expectations.

Nonfarm payrolls increased by 142,000 jobs last month after a downwardly revised 89,000 rise in July. Economists polled by Reuters had forecast payrolls increasing by 160,000 jobs.

The unemployment rate fell to 4.2 per cent, from 4.3 per cent the prior month.

US 10-year Treasury yields fell as low as 3.657 per cent, the lowest since June 2023 and interest rate sensitive two-year yields reached 3.642 per cent, the lowest since March 2023.

The closely watched yield curve between two- and 10-year notes reached 3.4 basis points, the steepest since July 2022.

Updated 18:35 IST, September 6th 2024