Posted 10/4/2023, 8:08:00 AM
Treasury Yields Retreat From 16-Year High After Weak Jobs Data
- Yield on 30-year Treasury briefly topped 5% before finishing off 16-year high after weak private payroll data
- Yields fell after private employment rose just 89K in Sept, missing forecasts
- Recent robust economic data drove yields higher as Fed stays hawkish
- political chaos in Washington initially pushed yields up before easing
- Analysts say ADP payroll data suggests potential downside risk for Friday's jobs report
