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5 Feb 2016
Treasury yields rise on solid wage gain in the US
FXStreet (Mumbai) - 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%.
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%.