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Treasury yields rebound after a softer jobs report

After a brief drop, 10-year yields ended the week near 5.28%, and markets are pricing about an 82% chance rates stay unchanged in October.

Reported · Written up by our desk · Economy

A softer US jobs report briefly eased pressure on bond yields, but the relief proved fragile, according to Forexlive.

Non-farm payrolls rose by 29k versus expectations, and 10-year Treasury yields initially fell to a low of 5.16% after the release, before rebounding to finish the week near 5.28%.

Forexlive said the jobs data reduced some pressure on Fed decision-making ahead of the October meeting, but traders appear to have not fully abandoned the tightening narrative.

Markets are now pricing roughly an 82% chance policymakers leave interest rates unchanged later this month, Forexlive reported, up from about 72% previously.

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