US Treasuries Slide as Solid Jobs Market Gives Fed Room on Rates
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US Treasuries fell after stronger-than-expected US employment data showed tariff uncertainty hasn’t hit the nation’s jobs market yet, prompting traders to trim bets on imminent interest-rate cuts.
The declines on Friday pushed yields on two- to five-year notes higher by more than 10 basis points after non-farm payrolls rose 177,000, above all estimates compiled by Bloomberg. Traders pulled back on bets for Federal Reserve rate reductions, pricing in 79 basis points of total easing this year, compared to around 90 basis points before the report.