Treasury yields fell on Friday after a key U.S. jobs report showed a slower-than-expected pace of hiring in August.<\/p>\n
The benchmark\u00a010-year Treasury<\/a>\u00a0yield declined more than 8 basis points to 4.091% and had reached the lowest level since April 7. The\u00a02-year Treasury<\/a>\u00a0yield was lower by more than 6 basis points at 3.526% and had reached a five-month low. The\u00a030-year Treasury yield<\/a> fell more than 10 basis points to 4.769%.<\/p>\n One basis point equals 0.01% and yields and prices move in opposite directions.<\/p>\n U.S. employment growth showed further signs of slowing last month, with only 22,000 jobs<\/a> being added in August. Economists polled by Dow Jones expected an increase of 75,000. The unemployment rate ticked up to 4.3%, as expected.<\/p>\n On Thursday, the ADP private payrolls data came in weaker-than-expected, with private payrolls rising by just 54,000<\/a>\u00a0in August \u2014 below the forecast of 75,000 from economists polled by Dow Jones and a slowdown from the 106,000 gain in July.<\/p>\n The report showed a marked slowdown from the July increase of 79,000, which was revised up by 6,000. Revisions also showed a net loss of 13,000 in June.<\/p>\n “The labor market continues to show fatigue as businesses hold back on hiring amid uncertainty around the direction of inflation, tariffs and the strength of the underlying economy,” said Joe Gaffoglio, president and CEO at Mutual of America Capital Management.<\/p>\n