2-Year Treasury Yield Falls to 4.137% as June Payrolls Miss at 57,000
Updated
Updated · CNBC · Jul 2
2-Year Treasury Yield Falls to 4.137% as June Payrolls Miss at 57,000
3 articles · Updated · CNBC · Jul 2
Summary
The 2-year Treasury yield dropped more than 2 basis points to 4.137% after June nonfarm payrolls rose just 57,000, far below the 115,000 consensus forecast.
That weaker hiring print, down from May's 129,000 gain, led investors to scale back expectations for a near-term Federal Reserve rate hike, with BMO saying a July move now looks hard to justify.
The benchmark 10-year Treasury yield moved the other way, edging up 1 basis point to 4.485%, underscoring a split reaction across the curve.
Fed Chair Kevin Warsh still stressed inflation risks in Sintra, saying prices are "too high" and the central bank remains committed to its 2% inflation goal.