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U.S. Government-Bond Yields Climb After Jobs Data

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09/04/2020 | 09:21am EDT

By Sebastian Pellejero

U.S. government-bond yields rose after data showed the economy added more jobs than expected last month, driving down the unemployment rate.

The yield on the 10-year Treasury note recently traded at 0.661%, according to Tradeweb, on pace to end a five-session streak of declines. That compares to 0.645% before the report's release and 0.621% at Thursday's close.

Yields on longer-dated Treasurys also climbed, with the 30-year yield recently trading at 1.404%, up from 1.341% Thursday.

Yields, which rise when bond prices fall, climbed after the Labor Department said the U.S. added 1.4 million jobs in August. That was above the forecast of economists surveyed by The Wall Street Journal, who had expected about 1.3 million increase in jobs. The unemployment rate fell to 8.4%, dropping below double-digits for the first time since March.

Write to Sebastian Pellejero at sebastian.pellejero@wsj.com

 

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