A hiring notice is posted at a restaurant in Illinois. [AP]
A hiring notice is posted at a restaurant in Illinois. [AP]

US Treasury yields rose across the board Friday after American nonfarm payrolls surged well beyond market expectations in May.

The 10-year Treasury yield stood at 4.54 percent as of 8:40 a.m. Eastern time Friday, up 0.06 percentage point from the previous session, according to electronic trading platform Tradeweb.

The 30-year yield climbed 0.04 percentage point to 5.02 percent, breaching the psychologically significant 5 percent threshold.

The 2-year yield, which is more sensitive to monetary policy, also rose 0.07 percentage point to 4.12 percent.

The Bureau of Labor Statistics, part of the Labor Department, said nonfarm payrolls increased by 172,000 in May from the previous month.

The figure far exceeded the consensus forecast of 80,000 compiled by Dow Jones.

The stronger-than-expected reading is expected to reinforce bets that the Federal Reserve will hold off on cutting interest rates for the rest of the year, even as concerns persist that an energy price spike tied to the US-Iran war could slow the economy.


mokiya@heraldcorp.com