US Treasury Yields Experience Significant Drop

The United States Treasury yields saw a further decline this Friday, with the two-year note's yield dropping sharply by 28 basis points. This movement follows the latest nonfarm payroll report, which has stirred the markets with its unexpected figures.

Nonfarm Payroll Report Disappoints

July's total nonfarm payroll employment fell short of analyst expectations, recording only 73,000 new jobs. Moreover, the figures for May and June were revised downwards significantly, from 144,000 and 147,000 to 19,000 and 14,000, respectively. This has raised concerns about the strength of the labor market.

Federal Reserve Governor Announces Resignation

Adding to the day's economic news, Federal Reserve Governor Adriana Kugler, a key voting member of the Federal Open Market Committee (FOMC), announced her resignation, effective earlier than her tenure's expiration. This development has added another layer of uncertainty to the financial markets.

Detailed Yield Movements

By 3:47 pm ET, the 10-year Treasury note's yield had decreased by 15 basis points to 4.21%. Simultaneously, the two-year note's yield plummeted by 28.2 basis points to 3.669%, and the 30-year bond's yield saw a 7.4 basis points drop to 4.811%.