Treasury Bonds Surge Due to 'Surprise Employment Growth' in U.S.Maximum in 14 months

U.S. Treasury yields rose to their highest level in more than a year in December last year as U.S. employment indicators far exceeded expectations.

According to the electronic trading platform TradeWeb, the yield on the 10-year U.S. Treasury note was 4.79% shortly after the announcement of employment indicators, up 0.1%p from the previous session's close.

This is the highest figure in 14 months since the beginning of November 2023.

The yield on the two-year Treasury note, which is sensitive to monetary policy, also jumped 0.12 percentage point from the previous session to 4.38 percent shortly after the announcement of the employment data.

Wall Street sees growing speculation that the Fed will stop further cuts and keep interest rates unchanged for the time being as strong job market conditions continue amid a slowdown in U.S. inflation.