Authorities bond yields rise forward of December employment information
US Treasury bond yields continued to rise early Friday, ahead of the country’s December job growth report due to be released later this morning.
The benchmark 10-year Treasury note yield rose to 1.088% at 3:55 a.m. ET, while the yield on the 30-year Treasury note rose to 1.861%. The returns move inversely to the prices.
Treasury bond yields added to earlier session wins after Democrats expected to win for Georgia’s two Senate seats in this week’s runoff elections.
This gives the Democrats unified control over Congress and the White House as President-elect Joe Biden takes office, giving him a better chance of reaching his legislative agenda.
Biden’s election victory was confirmed by Congress early Thursday after supporters of incumbent President Donald Trump stormed the U.S. Capitol on Wednesday. Trump then finally admitted on Thursday, admitting that Biden’s administration would take command on Jan. 20.
US employment growth in December is likely to have slowed dramatically in the previous month. The data will be released by the US Department of Labor on Friday at 8:30 am CET.
Economists have predicted 50,000 new jobs were created in December, which is just over a fifth of the 245,000 new employees in November, according to Dow Jones.
Wholesale inventory data for November is expected to be published at 10 a.m. CET.
Richard Clarida, vice chairman of the Federal Reserve, is due to speak at 1:00 p.m. ET.
No auctions are due on Friday.
– CNBC’s Patti Domm contributed to this report.