AGL 8.42 Increased By ▲ 0.12 (1.45%)
ANL 10.75 Increased By ▲ 0.16 (1.51%)
AVN 78.90 Increased By ▲ 0.30 (0.38%)
BOP 5.50 Increased By ▲ 0.05 (0.92%)
CNERGY 5.47 Decreased By ▼ -0.12 (-2.15%)
EFERT 79.90 Decreased By ▼ -0.35 (-0.44%)
EPCL 69.00 Decreased By ▼ -0.60 (-0.86%)
FCCL 15.00 Decreased By ▼ -0.30 (-1.96%)
FFL 6.45 Decreased By ▼ -0.08 (-1.23%)
FLYNG 7.24 Increased By ▲ 0.06 (0.84%)
GGGL 10.87 Increased By ▲ 0.02 (0.18%)
GGL 16.85 Increased By ▲ 0.06 (0.36%)
GTECH 8.12 Decreased By ▼ -0.02 (-0.25%)
HUMNL 7.11 Increased By ▲ 0.07 (0.99%)
KEL 3.05 Increased By ▲ 0.06 (2.01%)
LOTCHEM 32.52 Increased By ▲ 1.75 (5.69%)
MLCF 28.61 Decreased By ▼ -0.37 (-1.28%)
OGDC 84.50 Increased By ▲ 1.75 (2.11%)
PAEL 16.80 Decreased By ▼ -0.17 (-1%)
PIBTL 6.00 Decreased By ▼ -0.08 (-1.32%)
PRL 18.07 Decreased By ▼ -0.03 (-0.17%)
SILK 1.15 No Change ▼ 0.00 (0%)
TELE 11.32 Increased By ▲ 0.07 (0.62%)
TPL 9.20 No Change ▼ 0.00 (0%)
TPLP 20.00 Increased By ▲ 0.12 (0.6%)
TREET 26.43 Decreased By ▼ -0.03 (-0.11%)
TRG 95.39 Increased By ▲ 0.79 (0.84%)
UNITY 20.07 Increased By ▲ 0.57 (2.92%)
WAVES 13.84 Decreased By ▼ -0.50 (-3.49%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
BR100 4,238 Increased By 51.2 (1.22%)
BR30 15,554 Increased By 80.4 (0.52%)
KSE100 42,495 Increased By 398.6 (0.95%)
KSE30 16,080 Increased By 197.2 (1.24%)

NEW YORK: Yields on shorter-dated US Treasury notes jumped on Friday morning, flattening the yield curve, after government data showed job growth surged in January, just days after the Federal Reserve expressed caution about further interest rate hikes this year.

The US Labor Department's closely watched employment report showed employers hiring the most workers in 11 months, with no "discernible" impact on job growth from a 35-day partial government shutdown. However, the longest shutdown in history, which ended a week ago, pushed up the unemployment rate to a seven-month high of 4.0 percent.

The report comes two days after the Fed signaled that it may pause hiking interest rates because of softness in the economy and financial market volatility.

"If the Fed's message on Wednesday was a dovish reaction to the data, well even in the last few days, the data has improved," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott.

"The question for financial markets over the next few trading sessions is whether the dovish outlook from the Fed was a reaction to data inputs or whether it represents a new reaction function to the same data."

Two-year yields, which reflect traders' expectations of interest rate hikes, rose faster than 10-year yields. The two-year yield was last up 2 basis points to 2.48 percent, with the ten-year yield up 1.2 basis point. That flattened the yield curve, measured as the spread between two- and 10-year yields to 16.1 basis points.

Copyright Reuters, 2019
 

 

 

 

Comments

Comments are closed.