10-Year Treasury Yield Climbs to 4.868% as 165,000 U.S. Jobs Boost Rate-Hike Odds
Updated
Updated · CNBC · Nov 6
10-Year Treasury Yield Climbs to 4.868% as 165,000 U.S. Jobs Boost Rate-Hike Odds
3 articles · Updated · CNBC · Nov 6
Summary
The benchmark 10-year Treasury yield rose more than 3 basis points to 4.868%, while the 2-year jumped nearly 5 basis points to 4.524% after October payrolls beat expectations.
U.S. employers added 165,000 jobs in October and unemployment fell to 4.1%, far above forecasts for 59,000 jobs and a steady 4.2% jobless rate.
That stronger labor data pushed traders to raise the implied chance of a Dec. 9 quarter-point Fed hike to more than 76%, up from more than 66% a day earlier.
The move adds to a volatile week for markets already rattled by Democrats taking both chambers of Congress and a Thursday AI-stock selloff that erased more than $1 trillion from the Magnificent Seven.