Overview
The bond yields remained relatively unchanged on Friday as investors awaited two crucial reports on the U.S. economy, including the pivotal payrolls data.
Market Movement
- The yield on the 2-year Treasury (BX:TMUBMUSD02Y) stood at 4.87%, declining by 0.5 basis points. It's important to note that yields move inversely to prices.
- The yield on the 10-year Treasury (BX:TMUBMUSD10Y) reached 4.12%, increasing by 0.5 basis points.
- The yield on the 30-year Treasury (BX:TMUBMUSD30Y) climbed to 4.23%, rising by 1.3 basis points.
Factors Influencing the Market
The longer end of the curve experienced a challenging August, with the yield on the 10-year Treasury recording a 13 basis points increase and the 30-year yield witnessing a climb of 19 basis points.
Investors eagerly await the release of the nonfarm payrolls data at 8:30 a.m. Eastern time. Analysts anticipate that around 170,000 jobs were created in August, marking the lowest figure since December 2020 when 268,000 jobs were lost.
Duy further highlighted the significance of the Institute for Supply Management manufacturing data, expected to be released at 10 a.m. Eastern. He mentioned, "While markets expect more of the same ho-hum data, a break above 50 would be psychologically important."
Our Latest News
Block Outperforms Competitors in Q3 Earnings
Block (ticker: SQ) exceeded Q3 earnings expectations, showcasing 38% increase in gross profit and introducing new Cash App Card feature. Macquarie analyst Paul...
Terran Orbital Corp. Buyout Proposal
Lockheed Martin made a $1 per share acquisition proposal to Terran Orbital Corp., leading to a stock price surge and the implementation of a rights plan to prot...
Bitcoin and Cryptocurrencies Continue to Slide
Bitcoin and other cryptocurrencies continue to decline, with prices falling and bullish momentum fading. Stock market gains contrast with the crypto market's pe...