Treasury yields edge lower after figures show net decline in jobs in October and November
U.S. Treasury yields ticked lower Tuesday as investors assessed the latest jobs report, whose release was delayed by the government shutdown.
TL;DR
- U.S. Treasury yields fell slightly on Tuesday.
- The latest jobs report showed a mixed picture of the U.S. economy.
- Nonfarm payrolls for November were 64,000, but October's count showed a drop of 105,000.
- The unemployment rate increased to 4.6%, the highest since September 2021.
- Goldman Sachs Asset Management believes the Fed will likely not give significant weight to this report due to data disruptions.
- Market odds for an interest rate cut next month remained unchanged.
- The November consumer price index report and weekly unemployment claims are key events for the upcoming week.