"Traders React to Job Creation Data with Treasury Yields Surging Above 4%"
TL;DR Summary
Bond traders remain confident in a 2024 bond rally despite a recent pullback, seizing on elevated yields before anticipated interest rate cuts by the Federal Reserve. The market faces a test with upcoming inflation data and a 10-year Treasury auction, but buyers stepped in as 10-year Treasury yields approached 4.1%, the highest since mid-December, following strong job growth data.
- Bond Traders Seize on 4% Yields, Confident Fed Rate Cuts Coming Bloomberg
- 10-year swings back above 4% after December jobs report CNBC
- Treasury Yields Give Back Gains Barron's
- Treasuries Plunge as Job Creation Pace Dims Wagers on Fed Cuts Bloomberg
- December jobs report: S&P 500 futures point to fifth straight loss ahead of payrolls data MarketWatch
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