Sunday, December 10, 2023
HomebondsYields at 3-week lows as economic expectations fall

Yields at 3-week lows as economic expectations fall

U.S. Treasury prices edged up on Monday, extending Friday's rally after employers added far fewer jobs in December than traders and economists had expected, with yields falling to three-week lows.

Benchmark 10-year note yields registered their largest one-day fall since October on Friday on news U.S. employers added only 74,000 workers in December, far short of the 196,000 rise forecast by analysts polled by Reuters.

The Merrill Lynch MOVE index, which estimates future volatility of long-term bond yields, plunged on Friday to its lowest level in two months after the jobs data. The index dropped to 61.2 Friday, down from 73.7 the previous day.


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