U.S. Treasury Yields Falls During Weak Employment Data

U.S. Treasury Yields Falls During Weak Employment Data

U.S. Treasury yields falls during weak employment data. On Thursday morning, U.S. Treasury yields ebbed declined as the spread of the delta variant is expected to affect economic growth.

The yield on the benchmark 10-year Treasury note tumbled by nearly 2 basis points to 1.321% at 4 a.m. ET. The yield on the 30-year Treasury bond fell by 1 basis point to 1.941%.

On Wednesday, the Labor Department’s latest Job Openings and Labor Turnover Survey reported that job openings outnumbered the unemployed by more than 2 million in July.

According to the Fed, growth dropped slightly to a moderate pace amid concerns about the spread of the delta variant during the July-through-August period.

The jobless claims filed during the week ended Sept. 4, are due to come out at 8:30 a.m. ET. Economists polled by Dow Jones anticipated 335,000 Americans filed for unemployment final week, in comparison with the previous week’s 340,000.

Auctions are expected to be conducted on Thursday for $20 billion of 4-week bills, $30 billion of 8-week bills, and $24 billion of 30-year bond.

U.S. Treasuries are currently driving the market,” Anna Guglielmetti, head of institutional portfolio management Italy at Credit Suisse, said, adding, “In the euro zone supply is one of the main issues; but it’s not expected to impact yields this week as supply net of redemptions and coupons will be almost neutral.”