The 10-year US Treasury yield hovered near 4.16% on Friday, staying at four-month lows as investors awaited the August jobs report, seen as pivotal in cementing expectations for a Federal Reserve rate cut this month. The latest ADP survey showed private payrolls increased by just 54,000 in August, sharply down from July’s revised 106,000 and missing forecasts of 65,000. Other data this week also pointed to labor market weakness, with job openings falling to 7.18 million in July, the lowest since September 2024, while jobless claims rose to a two-month high. That drove traders to price in nearly 100% odds of a 25 basis point cut on September 17. Several Fed officials also flagged labor market risks this week, backing the case for immediate policy easing.
Manage Consent
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.
The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.