The 10-year Treasury yield falls below 4% due to the positive impact of the jobs data on the stock market.
Early Friday, U.S. Treasury yields were lower as investors continued to evaluate the economy's condition following the positive labor data.
Despite a 4 basis point decrease in the yield on the 10-year Treasury to 3.9608% at 5:34 a.m. ET, it remained close to the level it had on Thursday before the release of a weak U.S. jobs report, which caused a wave of global market volatility.
The yield on the 2-year note was near-flat at 4.065%.
Prices and yields move in opposite directions, with one basis point equal to one one-hundredth (0.01%) of a percent.
The Labor Department reported on Thursday that the initial claims for unemployment insurance in the latest week were 233,000, which is lower than what was expected.
The index had its best day since 2022, and both the Asia-Pacific and European markets saw growth on Friday.
The Federal Reserve's 50 basis point rate cut in September is no longer certain, as traders now have roughly even odds of that or a 25 basis point move lower, according to CME's FedWatch tool.
The core producer price index, which provides fresh data, will be released on Tuesday.
Markets
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