Treasury 10-Year Yields Drop From 3% High on Slowing Jobs Growth
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Treasuries rose, pushing 10-year note yields down from 3 percent, after a report showed the U.S. added fewer jobs than forecast in August, damping speculation the Federal Reserve will slow bond purchases this month.
Yields advanced to a two-year high before the Labor Department report showed the economy added 169,000 jobs last month, compared with the median forecast of 180,000 in a Bloomberg News survey. Yields remained lower as Russian President Vladimir Putin said his nation will continue to assist Syria if it’s attacked. Fed policy makers are discussing whether the economy has improved enough to start reducing the asset purchases they have used to keep borrowing costs low.