On Thursday morning, U.S. Treasury yields fell due to weak employment data and worries about economic growth caused by the spread of the Delta variant. At 4 AM, the yield on the benchmark 10-year Treasury Note fell nearly 2 basis points to 1.321%. ET. ET. Yields are inversely related to prices, and 1 basis point equals 0.01%.
Treasurys
On Wednesday, the Labor Department's most recent Job Openings Survey and Labor Turnover Survey showed that job openings exceeded unemployed by more 2 million in July. The Federal Reserve closely monitors the JOLTS data for signs of employment slack. The Fed released its latest "Beige Book" on Wednesday. It stated that rising inflation was being exacerbated due to a shortage in goods, and that this would likely result in consumers paying more.
In addition, the Fed stated that overall growth had "slowed slightly to a moderate rate" due to rising public health concerns in the period July-August that was covered by the report. The number of jobless claims filed in the week ending Sept. 4 is due to be released at 8:30 a.m. ET. Dow Jones polled economists and found that 335,000 Americans had filed for unemployment last week compared to 340,000 the week before. On Thursday, auctions will take place for $20 billion in 4-week bills, $30 Billion of 8-week bills, and $24 Billion of 30-year bonds.
