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Treasury bond rally highlights employment data ahead of Fed decision
The U.S. labor markets are expecting to add approximately 90,000 jobs in September, down from 162,000 in August, reflecting the strength of the job market and allowing the Federal Reserve to continue raising interest rates to curb inflation. However, the bond market experienced a decline in yields, with yields on two-year bonds remaining steady and ten-year bond yields dropping to their lowest levels in 24 years, despite ongoing expectations of future interest rate hikes by July. This rebound does not suggest a fundamental change in economic outlooks, especially with inflation remaining near 3% and oil prices around $100 per barrel.
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