10-Year Yield Ends at 5.28% Despite Weak Jobs Data
U.S. markets are closed for the weekend. Trading resumes Monday at 9:30 a.m. ET (4:30 p.m. in Istanbul).
The bond market's first read of Friday's weak jobs report did not hold. The 10-year Treasury yield fell to about 5.16% after the data. It closed at 5.28%, up 4 basis points, according to Treasury data.
The 2-year yield rose 5 basis points to 4.83%. Traders cut the odds of an October hike but pushed further tightening toward December.
Bad news helped stocks. It did not help bonds.
Equities kept the first read. The Nasdaq Composite rose 1.19% and touched a record. Nvidia hit an all-time intraday high of $237.88, lifting its market value above $5.7T.
Tesla was Friday's other story: it delivered 486,532 vehicles in the third quarter, beating estimates. The stock rose about 5%. Western Digital fell 10.2% after Toshiba said it would expand hard drive production.
The weekend development is in Saudi Arabia. A witness told Reuters a large fire and plume of smoke rose near an Aramco facility in Riyadh on Saturday morning. Neither Aramco nor Saudi officials commented, and no one claimed an attack.
Oil fell Friday after the G7 agreed to release 100 million barrels of diesel and crude from emergency stocks. Brent still ended the week above $100.