Lates News

The yield on most term U.S. Treasury bonds fell to the lowest level in nearly a month as previously released data on new job additions and service sector activity indicators were weaker than expected, strengthening traders' expectations that the Federal Reserve will resume interest rate cuts this year. Yields on 2-year to 10-year Treasury bonds fell to the lowest level since May 9, as the ISM service sector index unexpectedly declined, indicating the industry contracted for the first time since June of last year. Earlier data released by ADP Research showed that private sector employment growth was the weakest in two years, causing the bond market to strengthen and continue its rise. The U.S. government will release more comprehensive May non-farm employment data on Friday, which is also expected to show a slowdown in growth.