Bond Market Update

Strong Jobs Report Weighs

• U.S. Treasuries trade on their lows after sliding in reaction to the strong Employment Situation report for May, which showed the addition of 172,000 nonfarm payrolls (Briefing.com consensus 96,000) and a sizable upward revision to readings from April, putting additional upward pressure on the market's future rate expectations. The post-data selling has lifted yields on 10s and shorter tenors to their highest levels in two weeks while the 30-yr yield is at a one-week high.
• Yield Check:
  • 2-yr: +10 bps to 4.15%
  • 3-yr: +10 bps to 4.20%
  • 5-yr: +9 bps to 4.28%
  • 10-yr: +6 bps to 4.54%
  • 30-yr: +4 bps to 5.02%