Treasury Yields Are Losing Faith in Nonfarm Payrolls

Treasury yields fell after a weak nonfarm payrolls report, led by the two-year yield, then gave back the move as markets questioned the jobs data. Shriya Samarth, StoneX Head of Rates, EMEA, explains why the Treasury yield curve bull steepened then retraced, and how the payrolls miss moved Fed rate hike odds. Downward NFP revisions have become a recurring trend, and fewer survey responses are raising data quality questions. Fed rate hike odds for October fell after the report, extending a slide that began with a cooler core PCE inflation print. Without Fed forward guidance, markets are extrapolating from every data release. 0:00 Treasury Yields Meet Jobs Flop 0:26 NFP Revisions Keep Sliding 0:37 Two-Year Yield Leads Steepener 0:50 Payrolls Data Quality Cracks 1:11 Fed Hike Odds Tumble Further 1:57 Trading Blind, No Fed Guidance Discover Actionable Insights with StoneX Market Intelligence: https://shop.stonex.com/products/stonex-essential-bundle?selling_plan=4455759972&variant=45955323625572&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_shriya_samarth&utm_content=share Like and subscribe for more financial market insights. #Treasuries #NFP #FederalReserve #StoneX #ShriyaSamarth