Bond Market Gets Limited Relief as Yields Reach 2023 Highs
- Ten- and 30-year yields reach highest levels since November
- Shorter-dated yields retreat from Thursday’s multiyear highs
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Bond investors got limited relief from June employment data showing a slowdown in job creation, as robust wage growth helped send 10- and 30-year Treasury yields to their highest levels of the year.
A day after two- and five-year rates reached the highest levels since 2007 in anticipation of additional Federal Reserve interest-rate increases, the Treasury market briefly rallied on the news that payroll growth fell short of economist estimates for the first time in more than a year.