U.S. Treasury yields ticked lower on Thursday as the latest employment data came in far weaker than expected.
The yield on the 10-year Treasury yield shed more than 2 basis points to 3.742%. The 2-year Treasury yield was last at 3.731% after sliding by around 4 basis points.
Yields and prices move in opposite directions and one basis point equals 0.01%.
ADP said Thursday that private payrolls rose by 99,000 in August. That’s not only the smallest gain since early 2021, but came in well below the consensus forecast of 140,000 from economists polled by Dow Jones.
This can bolster fears about the health of the U.S. economy as investors gear up for the big jobs data release on Friday.
Specifically, traders are awaiting closely followed data on nonfarm payrolls, unemployment and wages due Friday morning. The weaker-than-expected July jobs report prompted a wave of recession fears and market volatility, as questions about whether the Federal…
