US Treasuries rally with anemic jobs report for May

Friday, 07. June 2019 15:02

Prices of United States sovereign debt surged on Friday after the Bureau of Labor Statistics showed a disappointing picture of the labor market for May. The dollar declined and gold jumped amid a rise in pessimism regarding the health of the world's largest economy, but stocks on Wall Street held on to gains on speculation the Federal Reserve would opt for an interest rate cut in order to provide relief.

The two-year yield on notes issued by the Department of the Treasury in Washington sunk by nine basis points at 9:00 am ET to 1.797%. The ten-year rate dropped 5.2 points to 2.068% after touching 1.2054% for the first time since September 8, 2017. The yield on the 30-year US bonds tumbled four points to 2.573%. Corresponding futures soared 0.15%, 0.37% and 0.55%, respectively. Yields move inversely to bond valuations.

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