US Yields Surge After Strong NFP Data Fuels Rate Hike Bets
US Treasury yields soared on Friday, with the 2-year note rising over 12 basis points and the 10-year surging 6 bps, following an outstanding Nonfarm Payrolls report that strengthened expectations for Fed rate hikes.
US Treasury yields spiked sharply on Friday across the yield curve. The 2-year note jumped more than 12 basis points, while the benchmark 10-year yield surged 6 basis points.
The move came after the release of an exceptionally strong Nonfarm Payrolls report for the previous month. The data reinforced market bets that the Federal Reserve will continue raising interest rates to combat inflation.
Source: FXStreet Forex News