Yields down on US Treasury bonds
May 5, 2006
Yields were down and prices up on US Treasury bonds on Friday on new data that helped calm fears that interest rate rises would go on longer than has been generally expected. It was revealed that only 138,000 new jobs were created in the United States in April, far below the 200,000 which had been expected. In addition, the March figure of 211,000 new jobs created was revised downward to 200,000. However, there was still some concern over interest rates from the news that average hourly earnings were up 0.5 percent in April, to an annualized rate of growth of 3.8 percent, the highest level since August 2001.
On this news, yields on two-year Treasury bonds dropped 3.8 basis points to 4.941 percent. Yields on ten-year issues were at 5.121 percent, a decline of 4 basis points.
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