U.S. Treasury yields fell on Monday, adding to losses after Friday’s April jobs report showed weaker-than-expected job growth.
The rate of return is 10-Year Treasury Bond It fell 2 basis points to 4.475%.this 2-Year Treasury Bond The yield fell 1 basis point to 4.789%. Yields and prices move in opposite directions. 1 basis point is equivalent to 0.01%.
The U.S. Bureau of Labor Statistics said on Friday that the U.S. added just 175,000 jobs last month, below the 240,000 estimate by economists at Dow Jones. The unemployment rate rose to 3.9%, compared with expectations that it would remain stable at 3.8%. The report showed that wage growth was also lower than expected.
Uncertainty has grown in recent weeks about how many rate cuts will come this year and when they will begin, with many investors now expecting fewer rate cuts and not coming until later in the year. Friday’s weak labor report may prompt the Federal Reserve to cut interest rates sooner.
Richmond Fed President Tom Barkin and New York Fed President John Williams are both scheduled to speak.
—CNBC’s Samantha Subin contributed to this report.
About The Author
