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Good Friday May Be Friday the 13th for Bonds as Jobs Data Loom
The most dangerous time for the Treasury market this month will be when the U.S. issues its employment report Friday, if February and March are any guide. Benchmark 10-year yields jumped 14 basis points on Feb. 6 and 13 basis points on March 6, the dates of the two previous jobs figures. With yields moving inversely to prices, those dates mark the steepest declines in the world’s biggest bond market during the past eight weeks. There’s a strong possibility of another selloff before traders head home in the shortened Good Friday session, according to Hideaki Kuriki, an investor at Sumitomo Mitsui Trust Asset ... (full story)