Treasury yields extend bounce off January lows after robust jobs report

January 4, 2019

Treasury yields extended their surge on early Friday after the jobs report suggested the labor market remains healthy despite the growing pessimism over the economy’s fortunes, heightening the likelihood the Federal Reserve will raise rates in 2019.

Investors will also await an appearance by Federal Reserve Chairman Jerome Powell at a panel discussion, which could influence trading in fixed-income markets.

Against that backdrop, the 10-year Treasury note yield TMUBMUSD10Y, +3.09% rose 4.9 basis points to 2.602%, while the 30-year bond yield TMUBMUSD30Y, +1.86% advanced 3.1 basis points to 2.931%. Both long-dated maturities came off their January lows. The 2-year note yield TMUBMUSD02Y, +3.55% climbed 3.4 basis points to 2.423%%. Bond prices move in the opposite direction of yields.

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