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US Treasury yields jump after jobs report
US Treasury yields jumped during trading on Friday, October 7th, after the monthly jobs report was released.
Positive job report
The data showed that the US economy added 264 thousand jobs in September, compared to expectations of adding 273 thousand jobs, and compared to 315,000 jobs in August.
The increase recorded last month was the smallest monthly increase since April last year.
Meanwhile, the unemployment rate in America during the same period recorded 3.5%, which is lower than expectations at 3.7%.
The yield on the two-year US Treasury bonds rose to 4.3%, while the 10-year bond yield recorded 3.8%.
Bank of America said in a note this week that the Fed would like to see the landscape of job losses in the US market before it halts its anti-inflation campaign.
He added: The Fed's current job is not nearly finished, and it will continue to raise interest rates until the labor market cracks.
