Economics
Treasury Yields Climb After Jobs Data Show Tight Labor Market
- Ten- and 30-year yields rise to highest levels since June
- Despite weak job creation, Fed seen likely to pursue taper
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Treasury yields climbed Friday, with the 10- and 30-year tenors reaching the highest levels since June, as traders concluded that the Federal Reserve’s timeline for tapering asset purchases is probably intact despite weak job creation last month.
While the bond market vacillated for about an hour after the release of the Labor Department’s September employment report, the 10-year yield later rose as much as 4.2 basis points to 1.615%, while the 30-year touched 2.177%. Shorter-maturity yields rose less, resulting in a steeper yield curve.