U.S. Treasury yields fell on Friday as investors continued to assess the health of the U.S. economy after labor data boosted sentiment.
At 6:18 a.m. ET, the 10-year Treasury yield fell about 4 basis points to 3.961% but remained unchanged. Close to last week’s level The previous weak employment report in the United States triggered a series of fluctuations in global markets.
The 2-year Treasury yield was nearly flat that day at 4.034%.
Yield and price move in opposite directions, with one basis point equal to one hundredth (0.01%).
The U.S. Labor Department reported Thursday that initial jobless claims totaled 233,000 in the latest week, lower than expected.
This helps drive S&P 500 Index The index posted its best day since 2022, also boosting Asia-Pacific and European markets on Friday.
Meanwhile, traders have trimmed their bets on a 50 basis point rate cut by the Federal Reserve in September and are currently pricing in roughly the same 25 basis point rate cut, according to CME’s FedWatch tool.
New data were in short supply until Tuesday’s release of core producer prices.
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