Summary Box: Treasury yields set new lows as bond traders wait for monthly jobs report
By APThursday, October 7, 2010
Summary Box: Yield on 2-year note sets new lows
NEW, NEW LOWS: Treasury rates continued to drop, but barely. The yield on the 2-year note reached an all-time low of 0.36 percent, down from 0.39 percent the day before, the previous low.
UNEMPLOYMENT DATA: Bond traders are looking toward the Labor Department’s jobs report for September, due Friday. Wall Street expects the unemployment rate to tick higher, from 9.6 percent to 9.7 percent.
THE BRIGHT SIDE: Low rates mean the Treasury should be able to finance the government’s budget deficit on the cheap. The Treasury plans to raise $66 billion across three auctions next week.
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