Treasury Yields Extend Gains Ahead of Friday’s Jobs Data

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Treasury Yields Extend Gains Ahead of Friday’s Jobs Data

Treasury yields keep rising as ADP job gains are much lower than expected ahead of Friday’s nonfarm employment data from the Labor Department and as markets digest an economic slowdown in China driven by the Delta variant of the coronavirus. The 10-year yield is at 1.318%, up from 1.303% Tuesday. “Yields are firming as the long end of the market reflects Inflation Fears,” Spartan’s Peter Cardillo says. “The question is will this continue? We think so as the market becomes weary over transitory inflation.”