Bond prices rise as concerns over the job market support expectations of a Federal Reserve rate cut

According to Bijie Network: Boosted by weaker-than-expected U.S. labor market data, market expectations for a Federal Reserve rate cut this year have risen, leading to a sharp increase in U.S. Treasury prices. The yield on two-year Treasury bonds fell to its lowest point in nearly a month. Short-term Treasuries led the gains, and a sell-off in the stock market also pushed yields higher. Earlier reports of a surge in layoff news, an increase in unemployment claims, and a decrease in job vacancies caused yields to hit intraday lows.