Treasury yields rise on solid wage gain in the US

The short duration and the long duration treasury yields inched higher after the data in the US showed sharp rise in wages along with a drop in the unemployment rate.

A big miss in the non-farm payrolls headline figure and the downward revision of the previous month’s number got overshadowed by strong wage growth of 0.5% m/m.

The 10-yr treasury yield jumped more than 5 basis points from the daily lows to trade around 1.87%-1.88%; largely unchanged on the day.

The 2-yr note, which mimics short-term rate hike expectations, also witnessed a similar move to trade more than three basis points on the day at 0.75%.

The short duration and the long duration treasury yields inched higher after the data in the US showed sharp rise in wages along with a drop in the unemployment rate.

(Market News Provided by FXstreet)