Last Friday, the 10-year U.S. Treasury yield jumped to a four-year high following a better-than-expected jobs report that reflected rising wages in the U.S.
The Bureau of Labor Statistics said the American economy added 200,000 jobs in January. That number was higher than the 180,000 jobs expected by economists in a Reuters poll. Wages, meanwhile, rose 2.9 percent on an annualized basis.
Rising yields raised concern that higher borrowing costs could derail the economy. That sent the U.S. stock market lower on Friday — the Dow Jones industrial average fell more than 2 percent.
Meanwhile, Jerome Powell will take the helm as the 16th chairman of the Federal Reserve following his confirmation in January.
For this week’s Trader Poll, tell us: If the yield on the 10-year Treasury note reaches 3 percent, will it be a death knell for the bulls in the stock market?
