Treasuriesare lower than yesterday at the opening of today’s session. The yield on the UST10-Year is currently at 2.844% after closing at 2.791% during the prior session.
Prices on UST10-Yeardropped further on Friday as strong jobs data for January fueled expectations that the Fed may raise interest rates in March.
Today we received January’s print for Nonfarm Payrolls, which rose to 200k, beating survey of 180k and up from its previous 160k revised mark; and Private Payrolls, which rose to 196k, beating survey of 181k and up from its previous 166k mark. Also in today, month-over-monthAverage Hourly Earnings for January rose 0.30%, above survey of 0.20% but slightly below previous mark of 0.40% revised; while year-over-yearAverage Hourly Earnings for January rose 2.90%, above survey of 2.60% and up from previous mark of 2.70% revised. Finally, Unemployment Rate for January remained at 4.10%, in line with both survey and prior mark; while Labor Force Participation Rate also remained at 62.70%, in line with prior mark.
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Prices on UST 10-Year dropped further on Friday as strong jobs data for January fueled expectations that the Fed may raise interest rates in March.
Today we received January’s print for Nonfarm Payrolls, which rose to 200k, beating survey of 180k and up from its previous 160k revised mark; and Private Payrolls, which rose to 196k, beating survey of 181k and up from its previous 166k mark. Also in today, month-over-month Average Hourly Earnings for January rose 0.30%, above survey of 0.20% but slightly below previous mark of 0.40% revised; while year-over-year Average Hourly Earnings for January rose 2.90%, above survey of 2.60% and up from previous mark of 2.70% revised. Finally, Unemployment Rate for January remained at 4.10%, in line with both survey and prior mark; while Labor Force Participation Rate also remained at 62.70%, in line with prior mark.
The curve has bear-steepened with the UST 10-Year yield up 5.3 bps from prior closing.
Have A Wonderful Weekend!