The UST10-Year yield is at 2.592% this morning after closing at 2.609% yesterday.
U.S. Treasuries opened nearly unchanged ahead of the much-anticipated non-farm payroll numbers and remained steady after a stronger than expected release this morning. The Department of Labor reported a total gain of 235K new jobs for the month of February. Hiring in construction had the largest impact, with help of unseasonably warm weather, this sector added 58K jobs for the month. Private education services, manufacturing and health care followed with an addition of 29K, 28K and 27K new jobs respectively. The retail sector suffered the largest drop with 26K jobs lost in the month of February.
Average hourly earnings for all employees on private non-farm payrolls grew at nearly the same pace this month with a 6 cent (0.20%) gain to $26.09 average p/h after a 5 cent gain the previous month. Annually, average hourly earnings have risen 71 cents or 2.80%. The average employee work hours remained constant at 34.40 weekly.
February’s unemployment rate remained nearly unchanged at 4.70% vs. 4.80% in January and 0.20% down from a year ago. The labor force participation rate was also little changed, at 63.00%, up 0.10% from last month.
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U.S. Treasuries opened nearly unchanged ahead of the much-anticipated non-farm payroll numbers and remained steady after a stronger than expected release this morning. The Department of Labor reported a total gain of 235K new jobs for the month of February. Hiring in construction had the largest impact, with help of unseasonably warm weather, this sector added 58K jobs for the month. Private education services, manufacturing and health care followed with an addition of 29K, 28K and 27K new jobs respectively. The retail sector suffered the largest drop with 26K jobs lost in the month of February.
Average hourly earnings for all employees on private non-farm payrolls grew at nearly the same pace this month with a 6 cent (0.20%) gain to $26.09 average p/h after a 5 cent gain the previous month. Annually, average hourly earnings have risen 71 cents or 2.80%. The average employee work hours remained constant at 34.40 weekly.
February’s unemployment rate remained nearly unchanged at 4.70% vs. 4.80% in January and 0.20% down from a year ago. The labor force participation rate was also little changed, at 63.00%, up 0.10% from last month.
The curve has bull-flattened with the UST 10-Year 1.7 bps down from prior closing.
Have A Wonderful Weekend!