Written by David Randall
NEW YORK (Reuters) – Short-term US Treasury yields slipped from multi-year highs on Friday, after a closely watched jobs report showed rising unemployment and slowing employment growth in August, as many on Wall Street expected.
* Nonfarm payrolls increased by 315,000 jobs last month, up from 526,000 in July, according to the Labor Department. The unemployment rate has risen to 3.7% from its pre-pandemic low of 3.5% in July.
Economists polled by Reuters expected a salary increase of 300,000 people. Estimates ranged from 75,000 to 450,000.
* The jobs data came a week after the Federal Reserve Chairman, Jerome Powell, announced that the US economy may face a painful period of slowing economic growth and high unemployment as the central bank continues a strong pace to raise interest rates to curb inflation, which reached 40. A year high.
* The two-year US Treasury yield, which usually moves in line with interest rate expectations, fell 11.8 basis points to 3.404%, after hitting a 15-year high the day before.
The 10-year Treasury yield fell 6.6 basis points to 3.199%, a day after it reached a two-month high on the day, while the 30-year Treasury yield fell 2.7 basis points, to 3.347%.
David Page, head of macroeconomic research at axa (EPA 🙂 Investment Managers.
The closely watched portion of the US Treasury yield curve that measures the difference between two- and 10-year Treasury yields, seen as a gauge of economic outlook, was at -20.5 fundamentals.
(Edited in Spanish by Carlos Serrano and Juana Casas)
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