TREASURIES-US yields drop as unemployment rate rises
NEW YORK, Dec 16 (Reuters) - U.S. Treasury yields dropped on Tuesday after data showed that the unemployment rate unexpectedly rose last month, even as employers added more jobs in November than economists had forecast.
Employers added 64,000 jobs last month, above economists’ expectations for 50,000 in jobs gains. The unemployment rate rose to 4.6%. Economists had forecast the rate would remain unchanged on the month at 4.4%.
The 2-year note US2YT=RR yield, which typically moves in step with Federal Reserve interest rate expectations, was last down 2.7 basis points on the day at 3.481%. The yield on benchmark U.S. 10-year notes US10YT=RR fell 1.4 basis points to 4.169%.
The yield curve between two- and 10-year notes US2US10=TWEB steepened to 68.5 basis points, the steepest since April 9.
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