Bonds yield less on jobs data
by Elaine Frei
Yields on US Treasury bonds fell Friday on new data that showed a loss of 4,000 jobs in the US in August despite expectations that over 100,000 jobs would be created during the month.
The new data has most analysts expecting that the Federal Reserve will cut US interest rates when it meets later this month, with some predicting that it will be the first in a series of cuts.
The two-year Treasury bond yielded 3.91 percent, its lowest in two years and down from Thursday’s late quote of 4.1 percent.
Yields on ten-year paper fell from 4.52 percent Thursday to 4.38 percent, as low as it has been since January 2006, while thirty-year issues were yielding 4.68 percent, down from around 4.8 percent Thursday.
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