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U.S. Treasuries Off to Worst-Ever Start of the Year

  • Yields have already jumped more than 20 basis points this week
  • Mizuho prefers to position for higher yields, lower stocks
Updated on

Treasuries are off to their worst-ever start to a year and there’s every prospect Friday’s payrolls data will cause the selloff to accelerate.

Economists predict the jobs report will show employers added 447,000 workers in December, according to a Bloomberg survey, but the so-called whisper number has already jumped to 500,000. The increase was driven by Wednesday’s consensus-busting ADP Research Institute data that showed U.S. companies added the most jobs in seven months.