US Treasury Yields Rise As Jobless Claims Fall Below Expectations

According to Odaily, U.S. Treasury yields experienced an uptick following data indicating a lack of significant layoffs. Initial jobless claims for last week fell to 227,000 from an upwardly revised 242,000, coming in below the market forecast of 245,000. This data supports market expectations that the Federal Reserve will gradually lower interest rates. The Chicago Mercantile Exchange (CME) FedWatch tool shows the probability of a 25 basis point rate cut in November has increased from 92% yesterday to 97% today. Additionally, the U.S. dollar index saw a slight recovery, and the yields on 10-year and 2-year Treasury bonds rose, both slightly above their levels prior to the data release.