Higher U.S. Treasury Bond Yields With Strong Payrolls Data

Treasuries sold off on Friday in U.S. time, with the 10-year Treasury yield climbing to 2.398 percent, as hiring data came in higher than expectations and despite the the weak wage growth number.  At 222,000, June payrolls topped estimates, bolstering confidence in the American economy and giving the Federal Reserve additional ammunition for raising interest rates.  Investors continue to expect one further rate hike in 2017, likely in December.

With the Fed leading the way, global bond yields have also been rising over the past 2 weeks as central banks around the world talked increasingly about tightening monetary policy.