US 10Y Hits 3% After Strong ADP

August 1, 2018 Share Print 0

The yield on the benchmark 10-year Treasury note hit 3 percent Wednesday morning after data showed private payrolls increased more than expected last month.

Wall Street also awaited the latest monetary policy decision from the Federal Reserve, due out at 2 p.m. ET.

Jobs in the U.S. increased by 219,000 in July thanks to more hiring as companies got a boost from lower corporate taxes, according to ADP and Moody’s Analytics. Economists polled by Reuters had predicted a gain of 185,000.

July’s job gains were the best since February, when 241,000 jobs were added. Jobs growth for the previous month was also revised up to 181,000 from 177,000.

The yield on the 10-year Treasury note was 4 basis points higher at 3.01 percent at 9:19 a.m. ET, while the yield on the 30-year Treasury bond up 5 basis points at 3.137 percent. Bond yields move inversely to prices.

Via CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Bio
Twitter
Google+
Latest Posts

Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.