Treasury yields fell Wednesday after new data showed a surprise decline in private payrolls, while traders monitored the consequences of the government shutdown after lawmakers failed to reach an agreement on the federal funding bill.
Separately, the Supreme Court ruled Wednesday that Federal Reserve Governor Lisa Cook can keep her job as a voting member of the policy-setting Federal Open Market Committee pending January’s oral arguments to decide if the president has the legal authority to remove her from office.
The 10-year Treasury yield traded more than 4 basis points lower at 4.106%. The 30-year bond yield lost 2 basis points at 4.713%. One basis point equals 0.01% and yields and prices move inversely to one another.
Numbers out Wednesday continued to show a softening jobs market. Private payrolls declined by 32,000 in September, according to ADP. Economists polled by Dow Jones expected an increase of 45,000. August payrolls were…
