Treasury Traders Await Labor Data to Trigger Rate Shifts
Commuters inside the Oculus transportation hub in the Financial District of New York.
Photographer: Yuki Iwamura/BloombergBond investors are looking to a slew of labor-market indicators — including the May employment report — for help in determining the next shifts in Treasury yields and the Federal Reserve’s interest-rate policy.
US Treasuries capped their first monthly decline in 2025 in May, according to a Bloomberg index, with sentiment for longer-dated bonds rattled by worries around the nation’s fiscal outlook. Traders now enter June betting on two quarter-point rate reductions this year, down from around three in early May.