Shorter-term Treasury notes led the yield gains following the jobs report. The Treasury Department building in Washington.
Photo: Stefani Reynolds/Bloomberg News
U.S. government bond yields climbed sharply after a strong January jobs report.
In recent trading, the yield on the benchmark 10-year U.S. Treasury note was 1.883%, according to Tradeweb, compared with 1.825% Thursday.
Yields, which rise when bond prices fall, had drifted lower in the overnight session but surged immediately after the Labor Department released data showing that U.S. employers added 467,000 jobs in January. That was well above forecasts from economists who had expected a larger drag from the latest wave of Covid-19 cases.
Yields on shorter-term Treasurys, which are especially sensitive to the outlook for near-term monetary policy, led gains, with the two-year yield recently standing at 1.270%, compared with 1.190% Thursday.
Write to Sam Goldfarb at [email protected]
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