(04 Jul 2025, 12:04)

US treasury yield hits one-week high on reassuring trends in US labour market

The 10-year US Treasury yield edged up to one week high after June’s nonfarm payroll report offered a firm assessment of the US labour markets. The benchmark 10-year yield rose more than 5 basis points to 4.35% and currently holds at the same level. The long dated 30-year bond yield also moved up near 4.90%. Data showed that the US nonfarm payrolls increased by 147000 in June, recording a modest rise in comparison to the previous month’s figure of 144000. The US Unemployment Rate edged lower to 4.1% from 4.2% as well. The latest nonfarm data eased fears about weakness in the labor market after the ADP payrolls report from a day prior showed that private sector hiring decreased by 33,000 last month. This new evidence on the strength in US job market could compel the US Federal Reserve to hold interest rates steady at the July meeting. In another set of figures for labour market, in the week ending June 28, the advance figure for seasonally adjusted initial claims was 233,000, a drop of 4,000 from the previous week's revised level.

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US treasury yield hits one-week high on reassuring trends in US labour market