FX.co ★ Treasury Yields Swing After Jobs Report

The yield on the US 10-year Treasury note initially climbed above 4.2% before settling at approximately 4.18% on Friday. This movement occurred as traders evaluated a mixed employment report, which reinforced the expectation that the Federal Reserve will adopt a cautious approach toward easing interest rates. In December, the US economy added 50,000 jobs, falling short of both November's numbers and the market's forecast of 60,000. Consequently, the three-month moving average indicated a decrease of 22,000 jobs. Concurrently, the unemployment rate unexpectedly decreased to 4.4%, effectively eliminating the possibility of a rate cut by the Fed in January. Meanwhile, investors are preparing for the potential decision by the US Supreme Court on the legality of President Trump's tariffs, which may be announced today.