Treasuries soar as distorted US jobs data fuels bets on Fed rate cuts
Fri, Nov 1, 2024 8:18 PM

Treasuries soar as distorted US jobs data fuels bets on Fed rate cuts

A Flip by Shubhangi Gupta
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US government debt rallied after the economy generated just 12,000 jobs last month, bolstering expectations that the Federal Reserve will lower interest rates next week. Treasuries advanced on Friday, led by the short-end, pushing the yield on policy-sensitive two-year notes lower by 10 basis points. Traders added to bets that policymakers will cut rates by a quarter-point on November 7.

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