Treasury yields rise to two-month high

FXStreet (Mumbai) - The 2-,5-7-,10- and 30-year yields in the US rose to a two-month high after the US non-farm payrolls report for February reinforced expectations the Federal Reserve will push ahead with its first rate hike in almost a decade.

At the moment, the 10-year yield is trading up by 9.4 basis points (bps) at 2.204%, while the 30-year yield is trading 7.8 bps at 2.792%. At the short end of the yield curve, the 2-year yield is up 6.8 bps at 0.712%.

Meanwhile, the Germany-US 10-year yield spread stretched to its widest in more than a quarter of a century on expectations of a rate hike by the Fed and with ECB about to embark on its EUR 1 trillion QE program from March 9th.

Payroll data showed U.S. companies added 295,000 jobs in February, well above forecasts for an increase of 235,000. It was the longest run of 200,000-plus increases since 1994.

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