Treasury Yields Rise After Jobless Tally Sows Rate-Cut Doubt

Short-term Treasury yields rose after a sign of labor-market strength slightly eroded expectations for Federal Reserve interest-rate cuts this year.

The unexpected drop in the number of applications for US unemployment benefits to a level below all estimates in a Bloomberg survey of economists was the latest sign that the job market is strong enough for the Fed to pause cutting rates this month, and possibly not to resume before mid-year.