U.S. 10-Year Yield Drops Below 2% as August Employment Stalls
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Treasuries rose, pushing 10-year note yields below 2 percent, as the government’s payrolls report showed no jobs were added in August, stoking speculation that the Federal Reserve will increase its purchases of longer-maturity debt.
U.S. 30-year yields fell to the lowest in since January 2009 as U.S. employment data were the weakest reading since September 2010. Minutes of the Federal Reserve’s Aug. 9 meeting released on Aug. 30 showed policy makers will debate stimulus options at their September gathering. German government debt rallied and credit defaults swaps rose, reflecting concern the European debt crisis is worsening.