Bond Report: 10-year yield, 30-year yield hit fresh multiyear highs in brutal week for bond bulls

Treasury yields extended an assault on multiyear highs early Friday after a key jobs report showed tightening labor markets were leading to wage gains—a bearish development for bond bulls.

See: Unemployment rate falls to 49-year low of 3.7%

The Bureau of Labor Statistics reported the U.S. had added 134,000 jobs in September, below the 168,000 jobs expected from economists polled by MarketWatch. July’s and August’s numbers were increased. The unemployment rate fell to 3.7%, its lowest level since 1969. While, the average hourly earnings rose 0.3%, after a stellar 0.4% gain the previous month.

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