U.S. Treasury yields fell Friday as investors looked to June’s jobs report for fresh insights into the labor market and clues about the Fed’s next policy moves.
was last trading at 4.9860% after falling by two basis points. On Thursday it had briefly reached a 16-year high of 5.120%.ADP employment report
which showed that private sector companies added 497,000 jobs in June, far ahead of the 220,000 previously expected by economists polled by Dow Jones. The data also came in far higher than the 267,000 jobs added in the previous month. Treasury yields soared following the release of June's figures as investors considered what this could mean for the Federal Reserve's next interest rate decisions. Fed Chairman Jerome Powell suggested last week that a strong labor market was aThe Fed has four more policy meetings at which it could change interest rates left this year, with the next one coming up later in July.
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