Treasuries Gain After US Jobs Data Maintain Fed Rate-Cut Bets

Treasuries held modest gains after fluctuating in the wake of mixed US employment data that left the door open for further Federal Reserve interest-rate cuts in 2026.

Yields were lower by less than three basis points in late trading, off session lows reached immediately after the November jobs report. It showed a bigger-than-estimated increase in the unemployment rate to 4.6%, the highest since late 2021 and exceeding the Fed’s forecasts for the next three years.