“Positive Job Growth In March: High Treasury Yields Continue”
April 7, 2021
“U.S. Treasury yields were slightly higher on Friday morning, following a better-than-expected March jobs report.
The yield on the benchmark 10-year Treasury note climbed to 1.688% at 8:32 a.m. ET. The yield on the 30-year Treasury bond rose to 2.341%. Yields move inversely to prices.
The Treasury market will close early due to the Good Friday holiday.
Job growth in the U.S. surged in March at the fastest pace since August as companies stepped up hiring, the Labor Department reported. Nonfarm payrolls jumped 916,000 for the month while the unemployment rate fell to 6%. Economists surveyed by Dow Jones expected an increase of 675,000, with the unemployment rate at 6%.
On Thursday, investors juggled a handful of economic data as well as the aftermath of President Joe Biden’s announcement about a $2 trillion infrastructure bill.
First-time claims for jobless benefits were higher than expected last week, with 719,000 more workers heading to the unemployment line, the Labor Department reported Thursday. The total compared to the 675,000 estimate from Dow Jones and was above last week’s downwardly revised 658,000.
Biden unveiled the infrastructure and economic recovery package on Wednesday evening. Biden’s plan included spending on transportation, broadband and affordable housing.
Original article from CNBC…”
https://gsiexchange.com/positive-job-growth-in-march-high-treasury-yields-continue/