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10-year Treasury yield tops 4% after surprisingly strong US jobs report
The 10-year U.S. Treasury yield topped 4% on Friday after a surprisingly strong jobs report that showed continued strength in the economy, but raised questions on when the Federal Reserve can cut interest rates. The yield on the 10-year Treasury was last shot up by 14 basis points to 4%. The 2-year Treasury yield was last up by 19 basis points at 4.382%. Yields and prices have an inverted relationship and one basis point equals 0.01%. Wall Street digested a hot January jobs report. Nonfarm payrolls expanded by 353,000 last month, much stronger than the payrolls increase of 185,000 anticipated by economists polled by ... (full story)