Treasuries Rally as Soft Jobs Data Trims Fed Rate-Hike Bets

US Treasury yields fell after employment data released in July showed job cuts, prompting traders to reduce bets on Federal Reserve interest-rate increases. The two-year Treasury yield declined as much as nine basis points to 4.15% before settling near 4.20% by the end of the New York trading session. Tom Tzitzouris, Head of Fixed Income Research at Baird Strategas, was quoted on the market reaction.

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