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Treasurys sold off aggressively after Friday's nonfarm-payrolls report for November, pushing yields higher on everything from the 1-month bill to the 30-year bond. The rise in yields was led by 2- through 3-year rates, with the former jumping 12 basis points to 4.698%. Meanwhile, fed-funds futures traders pulled back on the likelihood of a Federal Reserve rate cut by March and now see a 47.5% chance of such a scenario unfolding — down from 64.5% a day ago, according to the CME FedWatch tool.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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U.S. stocks opened higher Thursday as investors digested fresh data showing initial jobless claims inched up. The Dow Jones Industrial Average DJIA was up 0.2% soon after the opening bell, while the S&P 500 SPX rose 0.5% and the Nasdaq Composite COMP gained 0.7%, according to FactSet data, at last check. The Department of Labor said Thursday that initial jobless claims rose by 1,000, to 220,000, in the week ending Dec. 2, indicating layoffs remain low. In the bond market, the yield on the 10-year Treasury note was up about three basis points at around 4.2% after the release of the weekly jobless-claims report, according to FactSet data, at last check.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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