Treasury yields retreat after October jobs report shows labor market slowdown

  • 📰 CNBC
  • ⏱ Reading Time:
  • 66 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 61%
  • Publisher: 72%

Breaking News: Markets Nouvelles

U.S. 10 Year Treasury,U.S. 2 Year Treasury,Bonds

U.S. Treasury yields were lower after the October jobs report showed smaller-than-expected job growth in a month that included hurricanes and a major strike.

Yields and prices move in opposite directions. One basis point equals 0.01%.The October nonfarm payrolls report showed a gain of just 12,000 jobs for the month. Economists surveyed by Dow Jones were expecting growth of 100,000 jobs.

The Bureau of Labor Statistics cautioned that the report was impacted by hurricanes and the strike at Boeing. Those complications may have dampened the reaction to the miss among traders.The murky jobs report could play a role in next week's meeting of Federal Reserve officials, where the central banks will decide how to follow up September's 50-basis-point rate cut.

"While the Fed will likely attribute some of the weakness in today's data to one-off factors, the softness in today's data argues for the Fed to continue its easing cycle at next week meeting. Stormy numbers but sky clearing for November 25 bp cut," Lindsay Rosner, head of multi sector fixed income investing at Goldman Sachs Asset Management, said in a statement.

Investors this week have weighed a series of key economic reports published throughout the week, including Thursday'sThe index rose 2.1% in September on an annual basis and 0.2% from the previous month. Both of those readings were in line with expectations of economists polled by Dow Jones. The PCE was the last key inflation insight due to be published before the Fed makes its next interest rate decision on Nov. 7. LSEG data showed that markets were last widely pricing in a 25-basis-point rate cut from the central bank then.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 12. in BE

Belgique Dernières Nouvelles, Belgique Actualités