US Treasuries slumped after stronger-than-expected US job and wage growth prompted traders to trim bets that the Federal Reserve will cut interest rates this year.
The sell-off on Friday (Saturday AEST) lifted yields across maturities by as much as 12 basis points, led by shorter-dated tenors more sensitive to Fed rate changes. The benchmark 10-year note’s rate rose 12 basis points to 4.51 per cent, and yields across the spectrum once again exceeded 4 per cent.
