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US Treasury yields decline after NFP data

FXStreet (Mumbai) - The Treasury yields in the US are inching lower after hitting daily highs after the release of the disappointing October month Non-farm payrolls (nfp) data in the US.

The ten-year yield is trading at 2.36%, while the two-year yield is trading at 0.527%. The Ten-year yield did hit a high of 2.407, although the gains were quickly erased. Moreover, the yields did not slide despite payrolls rising less-than-expected as the unemployment rate since the unemployment rate dipped to a six-year low of 5.8%, while the labor force participation remained unchanged at 62.80%. The Non-farm payrolls for October came in at 214,000, compared to the expectation of 235,000.

The yields may decline as the stock markets in the US are looking edgy, Moreover, the yields had gained ahead of the payroll data in anticipation of a strong number. Thus, yields are likely to fall since the data missed the market expectation.

Ten-year yield Technical levels

The yield has an immediate support located at 2.35%, under which it can fall to 2.32%. Meanwhile, resistance is seen at 2.407% and 2.44%.

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