US Treasury yields experienced fluctuations following the release of employment and economic activity data. The October ADP employment report showed an impressive addition of 233,000 jobs, significantly surpassing the average expectation of 113,000 in surveys. Additionally, September's job addition was revised upward from 143,000 to 159,000.
These figures suggest a slow deceleration in the Federal Reserve's rate hike pace, providing support to yields. Conversely, the anticipated GDP growth rate for the third quarter is 2.8%, falling short of the second quarter's 3% and below economists' expectation of 3.1%.
Upcoming economic indicators include the PCE inflation rate and weekly initial jobless claims, set to be released soon, with the non-farm payroll data expected shortly thereafter.
The yield on the 10-year US Treasury stands at 4.260%, and the 2-year yield is at 4.143%. Both yields rose after the ADP data release but saw gains wane following the GDP figures.
