Treasury Yields Fall as Weak Payrolls Fuel Bets on Fed Rate Cuts

Yields on Treasuries fell the most in nearly a month as traders added to bets the Federal Reserve will cut interest rates twice more this year to support a weakening US labor market.

Rates on two-year notes, which track expected Fed rates moves, moved seven basis points lower to 3.54%, the biggest decline since Sept. 5. The benchmark 10-year yield dipped five basis points to 4.10%.