4 Mar 2015
US Treasury yields weaken post ADP report
FXStreet (Mumbai) - The yields on the short duration as well as the longer duration Treasuries weakened after the ADP report showed the pace of job additions in the private sector slowed down considerably in the US.
The 10-year yield fell to 2.096%; down 2.6 basis points (bps) for the day, while the 30-year fell 1.7 bps to 2.694%. At the short end, the 2-year yield, which mimics the short-term interest rate expectations, fell 1.2 bps to 0.671%.
The yields weakened after the ADP report showed the private sector added 212K jobs in February, which is significantly lower than the upwardly revised January’s print of 250K. The data also missed the consensus estimate of 220K. The yields could extend losses if the US ISM non manufacturing for February prints lower than the consensus estimate of 56.5.
The 10-year yield fell to 2.096%; down 2.6 basis points (bps) for the day, while the 30-year fell 1.7 bps to 2.694%. At the short end, the 2-year yield, which mimics the short-term interest rate expectations, fell 1.2 bps to 0.671%.
The yields weakened after the ADP report showed the private sector added 212K jobs in February, which is significantly lower than the upwardly revised January’s print of 250K. The data also missed the consensus estimate of 220K. The yields could extend losses if the US ISM non manufacturing for February prints lower than the consensus estimate of 56.5.