The 10-year U.S. Treasury yield slid on Wednesday as investors assessed the state of the economy after the release of labor market data while awaiting a key report due Friday.
The yield on the 10-year Treasury dipped by more than 5 basis points to 4.117%. That pushed the yield to a new low going back to early September.
The 2-year Treasury yield was last higher by more than 2 basis points at 4.601%, making up for some losses after having fallen by as many as 7 basis points on Tuesday.
Yields fall when the price of bonds rises. One basis point equals 0.01%.
Treasurys
| TICKER | COMPANY | YIELD | CHANGE |
|---|---|---|---|
| US1M | U.S. 1 Month Treasury | 5.39% | +0.014 |
| US3M | U.S. 3 Month Treasury | 5.424% | +0.017 |
| US6M | U.S. 6 Month Treasury | 5.394% | +0.013 |
| US1Y | U.S. 1 Year Treasury | 5.089% | +0.013 |
| US2Y | U.S. 2 Year Treasury | 4.597% | -0.006 |
| US10Y | U.S. 10 Year Treasury | 4.132% | +0.011 |
| US30Y | U.S. 30 Year Treasury | 4.239% | +0.015 |
Investors digested a slew of data Wednesday. Unit labor costs, a measure of wages to output, fell 1.2% in the July-through-September period, more than the initial -0.8% estimate last month and the -0.9% Dow Jones forecast.
Productivity, or output per hour, revved higher by 5.2% for the same period, compared to the 4.7% initial estimate in November and the 4.9% Dow Jones expectation.
Meanwhile, traders got another sign of job market cooling on Wednesday, as ADP data also came in below forecasts. Private payrolls increased by 103,000 in November, under the Dow Jones estimate of 128,000.
Treasury yields fell on Tuesday after JOLTs job openings…
