Treasury Yields Resume Slide on Latest Sign Labor Market Cooling
- Long-dated yields fall as much as 10 basis points on the day
- Job openings fall more than expected, taking pressure off Fed
The Treasury Department in Washington, DC.
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Treasury yields resumed their downward slide — with the benchmark 10-year note’s falling to the lowest level since Sept. 1 — after the latest sign of labor-market cooling bolstered bets that a Federal Reserve shift to policy easing isn’t far off.
Long-term yields led the decline, falling as much as 11 basis points. The 10-year’s reached 4.16%. Two-year yields, more closely tied to the outlook for Fed policy, fell as much as 8 basis points after reaching the lowest level since June last week.