US 10-Year Treasury Yield at One-Month Lows
2025-06-05 13:29
By
Joana Taborda
1 min. read
The yield on the US 10-year Treasury hovered around 4.36% on Thursday, near one-month lows, as traders weighed a string of mostly weak economic data.
Initial jobless claims unexpectedly rose to 247K, the highest since October, pointing to a potential cooling in the labor market.
This followed Wednesday’s disappointing ADP report, which showed the private sector added just 37K jobs in May, marking the smallest monthly gain in nearly two years.
At the same time, unit labor costs rose more than initially estimated, heightening inflation concerns.
Meanwhile, the ISM Services PMI unexpectedly fell into contraction territory last month, its first decline in nearly a year, with price pressures rising to their highest level since 2022.
Looking ahead, markets are focused on Friday’s nonfarm payrolls report for further insight into labor market dynamics.
Traders are currently pricing in at least two Federal Reserve rate cuts this year, with the first now expected in September.