2-year Treasury yield hits 16-year high after ADP jobs data shatters expectations
The 2-year U.S. Treasury yield reached a level not seen in 16 years on Thursday as investors absorbed strong jobs data that could mean further tightening from the Federal Reserve.
The 2-year Treasury
was last up by more than 11 basis points at 5.063%. The yield hit a high of 5.120%, which was last exceeded on June 15, 2007, when it reached 5.121%. Meanwhile, the yield on the 10-year Treasury
was last trading at 4.037% after jumping 9 basis points.
Housing has become so unaffordable that over 75% of homes on the market are too expensive for middle-income buyers, per BI.
— unusual_whales (@unusual_whales) July 6, 2023
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