10-year Treasury yield ticks higher despite weaker-than-expected jobs report
U.S. Treasury yields rose despite a September jobs report came in much weaker than expected.
TL;DR
- Treasury yields rose on Friday, initially falling after a weak jobs report.
- The 10-year Treasury yield increased by almost 5 basis points to 5.281%.
- Nonfarm payrolls increased by only 29,000 in September, below economists' predictions.
- The unemployment rate rose to 4.2%.
- Traders now expect a 77% chance of the Fed holding rates steady in October.
- There is still a high likelihood seen for a rate hike in December.
- Analysts suggest the Fed's hiking cycle might not be finished.
- Global government bond yields eased in other major economies.