Treasury Yields Near 2025 Lows as More Fed Easing Is Priced In

Treasuries rose as traders latched onto fresh signs that the US labor market is softening, bolstering their outlook for how much the Federal Reserve might cut interest rates in the coming months.

The 10-year note’s yield fell below 4% for the first time since early April, while the five-year note’s came within a basis point of its lowest level this year after the weekly tally of new claims for unemployment insurance unexpectedly jumped to the highest level in almost four years. Yields ended the session between one and five basis points lower.