The yield on 10-year U.S. Treasuries increased after the October jobs report showed employment growth above forecasts. Market participants are adjusting their expectations as a stronger labor market could lead the Federal Reserve to keep interest rates elevated for longer. The move was mirrored across various Treasury maturities. Prediction markets also indicate a reduced likelihood of the 5-year yield falling below specific thresholds before 2027. Upcoming Federal Reserve communications, economic data and Treasury auctions are expected to provide further clues about the direction of interest rates.
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