Treasury Yields Fall on Signs of U.S. Labor Cooling
Dow Jones
Yesterday
0847 ET - Lower-than-expected U.S. employment numbers deepen an overnight decline in Treasury yields from lofty levels. September payrolls come at 29,000, lower than WSJ consensus of 84,000. July and August numbers are revised down by a total of 60,000. The unemployment rate ticks higher to 4.2%, versus estimates that it would stay at 4.1%. The data bolsters forecasts of a more moderate pace of interest rate increases by the Fed. Oil prices also cooperate, falling over 3%. The WSJ Dollar Index falls 0.3%. The 10-year Treasury yield is at 5.178%, down from 5.239% before the payrolls. The two-year slips to 4.718% from 4.773%. U.S. stock indexes extend early gains, with S&P 500 futures up 61.5 points.
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