10-year Treasury yield briefly drops below 4.5%

10-year Treasury yield briefly drops below 4.5%
10-year Treasury yield briefly drops below 4.5%

U.S. Treasury yields fell Friday after the April jobs report showed weaker-than-expected payroll growth and an unexpected rise in the unemployment rate.

The yield on 10-year Treasury notes was down 6 basis points at 4.51%, while that on 2-year notes fell 7 basis points at 4.808%.

The American economy created only 175,000 jobs last month while the unemployment rate rose to 3.9%, the Labor Department announced Friday.

The Federal Reserve (Fed) kept interest rates unchanged earlier this week in a range of 5.25 to 5.5%.

Rates were thus kept unchanged at their highest level in 23 years for the sixth and fifth consecutive meeting, while inflation remains stubborn in the United States.

The U.S. central bank has raised rates aggressively over the past two years in an effort to combat inflation.

Fed officials have said they need to have enough confidence that inflation is under control before cutting borrowing costs, but the latest economic data has not reassured them.

Stubborn and persistent inflation has reduced expectations that the Federal Reserve will cut rates significantly this year.

Fed aims to bring inflation back to target rate of 2%
With MAP

-

-

PREV creditors and banks made a joint refinancing offer
NEXT Tesla lays off its entire Supercharger team