Treasuries Advance as Jobs Report Underscores Gradual Fed Path
- Two-year yield declines after reaching highest since 2010
- Traders point to signs of tame inflation in labor data
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Treasuries gained, pushing two-year yields down from the highest since 2010, as U.S. employment data bolstered expectations that the Federal Reserve will raise interest rates from near zero this month and then take its time with additional increases.
Government debt prices initially fell as the Labor Department report showed the U.S. added 211,000 jobs last month, after an increase of 298,000 in October. The median forecast in a Bloomberg survey of economists was for an addition of 200,000 in November.