Treasury Yields Stabilize Ahead of Critical October Non-Farm Payrolls Report
U.S. Treasury yields showed minimal movement as investors prepared for the release of the October non-farm payrolls report this Friday. The benchmark 10-year yield sat at 4.83%, while the 2-year and 30-year notes remained largely flat. Market participants are looking for clarity on the labor market following a weak September jobs report. Economists anticipate an addition of 59,000 jobs with unemployment holding steady at 4.2%. This data arrives amidst broader market volatility, including recent political shifts in Congress and a significant selloff in artificial intelligence stocks that saw the 'Magnificent Seven' lose over $1 trillion in aggregate market capitalization.
Topics: AI stock selloff Midterm elections Non-farm payrolls Unemployment rate US Treasury yields