Treasury 10-Year Yield Drop to 2-Week Low on Jobs Concern
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Treasury 10-year note yields dropped to a more than two-week low amid speculation the U.S. employment market is floundering as politicians debate the so-called fiscal cliff, sustaining demand for safer assets.
Benchmark 10-year notes rose for a third day a two-day before a Labor Department report tomorrow that economists said will show U.S. non-farm payrolls rose by 86,000 in November, the smallest gain since June. Treasuries were supported as European Central Bank President Mario Draghi said economic weakness in the region will continue. The Treasury Department will auction $66 billion in notes and bonds next week.