In Negative-Yield Era, Whopping Data Can’t Stop Treasuries Rally
- Longer maturities rise even as jobs report trounces forecast
- ‘Wall of buying’ at work in 10-, 30-year debt: TD’s Goldberg
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The strongest U.S. labor report in eight months was no match for investors waiting in the wings for a chance to buy long-maturity Treasuries.
Yields on 10- and 30-year Treasuries ended Friday at record-low closing levels even after government data showed the U.S. created 287,000 jobs in June, 107,000 above the median forecast. The securities initially declined on the announcement as signs of economic strength boosted riskier assets.