U.S. Treasury Bond Yields Rise After Strong Jobs Report
U.S. Treasury bond yields rose on Friday after March employment data exceeded expectations.
The yield on 10-year Treasury bonds increased by 7 basis points to 4.378%, while that of 2-year bonds rose to 4.715%.
The U.S. economy added 303,000 nonfarm jobs last March, well above expectations, according to the Department of Labor, which also reported a decrease in the unemployment rate to 3.8%.
At its latest meeting, the Federal Reserve (Fed) indicated that it still expects three rate cuts by the end of this year.
However, Fed Chairman Jerome Powell emphasized that a steady decline in inflation is necessary before considering rate cuts.
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