10-Year Treasury Yield Dips Amid Economic Data Blackout
The 10-year Treasury yield fell 2 basis points to 4.073% as the prolonged government shutdown—now in its 38th day—continues to disrupt the release of critical economic data. The Bureau of Labor Statistics' nonfarm payrolls report, a key labor market indicator, remains shelved for the second consecutive month, leaving investors in the dark. Economists had anticipated a loss of 60,000 jobs and a rise in unemployment to 4.5%.
Private-sector job cut figures from Challenger, Gray & Christmas added to the unease, revealing 153,074 layoffs in October—the highest for the month in two decades. Demand for safe-haven assets crept up as uncertainty loomed, with traders scrutinizing any developments toward resolving the shutdown. A protracted stalemate risks further yield compression.
