US 10-year yield hits 4.855% after October jobs report
Business
US Treasury yields ticked up this week after October's jobs report blew past expectations.
The 10-year yield hit 4.855% and the 30-year reached 5.254%, signaling that investors are bracing for the Federal Reserve to possibly tighten things up soon.
Markets price Dec 9 Fed hike
October saw a big hiring boost, with 165,000 new jobs added, almost triple what experts predicted. Unemployment also dipped to 4.1%.
With numbers like these, markets now see a higher chance of more than 76% that the Fed will raise interest rates at the Dec. 9 meeting, as everyone watches how this could impact inflation and borrowing costs going forward.