Treasury Yields Fall From Eight-Month High on Jobless-Rate Miss
This article is for subscribers only.
Treasury 10-year note yields fell from a more than eight-month high after the U.S. unemployment rate in December was higher than forecast, boosting speculation the Federal Reserve’s stimulus efforts may not end anytime soon.
U.S. government debt declined earlier after minutes released yesterday of the Fed’s last meeting showed policy makers might end its third round of monthly bond purchases under quantitative easing this year. Treasuries pared earlier losses today as Labor Department figures showed the U.S. unemployment rate was 7.8 percent last month, matching November’s rate that was revised up. The median estimate of 78 economists surveyed by Bloomberg was 7.7 percent.