US Treasury bonds fall, job market resilience cools expectations of easing.

US treasury yields fell, as US non-farm payroll data came in stronger than expected, showing that trade uncertainty has not yet had a substantial impact on the labor market, prompting traders to reduce their bets on the size of the Fed rate cut. The yield on the US 2-year treasury note briefly rose by 7 basis points to 3.77%. Earlier on Friday, non-farm payrolls showed an increase of 177,000 jobs, higher than all estimates. Traders lowered their expectations for a Fed rate cut after the report, now expecting a cut of about 85 basis points by the end of the year, compared to around 90 basis points before the report. US treasury yields are poised to rise for a second consecutive trading day, as investors rethink their expectations for President Donald Trump's tariffs to slow down the world's largest economy.