Posted 4/5/2024, 7:27:33 PM
Strong Jobs Report Drives Treasury Yields Higher, Reduces Odds of Near-Term Fed Rate Cuts
- Strong US employment data reduces expectations of near-term Fed rate cuts
- Treasury yields jump, with the benchmark 10-year reaching 4.40%
- Traders price out a Fed rate cut before September and trim odds of cuts later in 2023
- Report shows robust job growth and falling unemployment, conflicting with recession fears
- Bond investors position for further yield increases, with 10-year potentially hitting 4.5-4.6%