Strong U.S. jobs report lifts Treasury yields and rate-hike bets, pressures gold

  • A stronger U.S. jobs report lifted the 10-year Treasury yield to 4.79% and pushed gold down 2% to around $4,380 an ounce.
  • U.S. nonfarm payrolls rose by 162,000 in August after July’s gain was revised up to 23,000, exceeding forecasts of 55,000 and 56,000.
  • Rate markets showed near 58% odds of a September Federal Reserve hike in the latest reading, versus nearly 52% in an earlier snapshot.

A stronger-than-expected U.S. employment report lifted rate-hike expectations on Friday, sending the 10-year Treasury yield nearly 3 basis points higher to 4.79% and pushing gold down 2% to around $4,380 an ounce. Nonfarm payrolls rose by 162,000 in August, following an upwardly revised 23,000 increase in July and exceeding forecasts cited at 55,000 and 56,000. The unemployment rate held at 4.1%, while annual wage growth eased to 3.1%, a smaller moderation than markets had anticipated. Rate markets showed differing snapshots, with the latest report indicating a near 58% probability of a September Federal Reserve hike and an earlier measure showing nearly 52% odds of a 25-basis-point increase this month.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.