Treasury 10-year note yields traded at almost a three-month low after a private report showed U.S. companies added fewer jobs in January than economists forecast, stoking demand for U.S. government debt.
The yield fell to its low of the day after rising yesterday the most this year. Volatility in Treasuries rose to the highest yesterday in almost four weeks. U.S. government bonds have climbed this year, even as the Federal Reserve cuts bond-buying under quantitative easing, as sliding emerging-market currencies and signs of slowing economic growth have boosted haven demand.
“Until the market has confidence the economy is operating without QE and things are improving and continue to improve, people will have a difficult time selling the market,” said Charles Comiskey, head of Treasury trading at Bank of Nova Scotia in New York, one of 21 primary dealers that trade with the Federal Reserve.
….full article HERE
