US Treasury bond yields jumped to their highest level since November 2023 after… Latest job data It came out stronger than economists expected.
the Treasury for 10 years The yield added nearly six basis points at 4.745%. the Treasury for two years It rose more than 10 basis points to 4.369%.
One basis point equals 0.01% and yields and prices move in opposite directions.
The December nonfarm payrolls reading showed much stronger than expected job growth. Nonfarm payrolls rose 256.00 during the month, up from 212.00 in November. Bureau of Labor Statistics reported Friday. At the same time, economists Job growth is expected to rise by 155,000 jobs In December, according to the Dow Jones Index.
The unemployment rate fell to 4.1%, a tenth of a point lower than expected.
Strong labor market data makes it unlikely that the Fed will cut interest rates at its next policy meeting later this month. Federal Funds futures trading data currently indicates odds of less than 3% for a rate cut at the next meeting.
Federal Reserve meeting minutes A December report released Wednesday showed that officials were concerned about inflation and the impact of President-elect Donald Trump's policies, and indicated they would move more slowly on interest rate cuts in 2025.
