8 May 2015
Rout in treasuries halts ahead of payrolls report
FXStreet (Mumbai) - The treasury prices rose in the early European session on Friday, thereby pushing yields lower ahead of the monthly non-farm payrolls report in the US.
Treasuries suffered the longest losing streak since Mar 29, 2011; which saw yields rise for eight consecutive sessions. However, the yields dropped on Thursday in what appeared to be a largely corrective move. Still, investors could be picking their positions ahead of the US Non-farm payrolls report for April, which is expected to show the economy added 227K jobs.
The 10-year currently trades 3.1 basis points lower at 2.153%, while the 30-year yield is down 3.0 basis points to 2.878%.
A weak official jobs report could see the investors bet on further delay in the interest rate hike in the Us, thereby sending the yields lower. Conversely, a strong print would exact opposite.
Treasuries suffered the longest losing streak since Mar 29, 2011; which saw yields rise for eight consecutive sessions. However, the yields dropped on Thursday in what appeared to be a largely corrective move. Still, investors could be picking their positions ahead of the US Non-farm payrolls report for April, which is expected to show the economy added 227K jobs.
The 10-year currently trades 3.1 basis points lower at 2.153%, while the 30-year yield is down 3.0 basis points to 2.878%.
A weak official jobs report could see the investors bet on further delay in the interest rate hike in the Us, thereby sending the yields lower. Conversely, a strong print would exact opposite.