February 1, 2019 / 1:47 PM / 6 months ago

TREASURIES-Yield curve flattens after report shows surge in U.S. job growth

NEW YORK, Feb 1 (Reuters) - U.S. Treasury yields jumped on Friday morning after the Labor Department’s monthly payrolls report showed job growth surged in January, with employers hiring the most workers in 11 months.

The yield curve flattened as two-year yields, which reflect traders’ expectations of interest rate hikes, rose faster than 10-year yields. The report points to the underlying strength in the U.S. labor market, despite a darkening economic outlook that has left the Federal Reserve cautious about further interest rate hikes this year. (Reporting by Kate Duguid Editing by Chizu Nomiyama)

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