Bond Report: 30-year Treasury yield hits 6-week high after solid jobs report

Treasury yields climbed on Friday to extend the week’s gains after a better-than-expected jobs report offered support to the Federal Reserve’s plan to raise interest rates and begin shrinking its $4.5 trillion balance sheet as early as September.

The 30-year Treasury bond’s yield, TMUBMUSD30Y, +0.94% climbed 3 basis points to 2.935%, its highest level since May 23. Friday’s action added to a weekly jump of more than 10 basis, marking its largest single-day gain in more than two months on Thursday.

The 10-year Treasury yield TMUBMUSD10Y, +0.76% rose 2.3 basis points, contributing to the weekly gains of 9.4 basis points.

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