10-Year Treasury Yield Rises Amid Stronger Cyclical Payroll Data
The U.S. 10-year Treasury yield initially declined following a weak September jobs report but later reversed higher, according to Eric Basmajian of EPB Research. He attributed the reversal to improving cyclical payrolls data suggesting underlying economic strength. Released on October 2, the employment report showed nonfarm payrolls rose by 29,000 in September. While this number was below expectations, analysts noted that certain sectors displayed stronger hiring trends than implied by the headline figure. The market reaction highlights how investors are closely watching payroll data for signs of economic resilience and potential inflationary pressures.
Topics: economic data jobs report Treasury yields