Economists Reassess Fed's Next Moves After September's Stunning Job Numbers
Portfolio Pulse from Piero Cingari
The Bureau of Labor Statistics' September jobs report exceeded expectations, leading to a surge in non-farm payrolls and an upward revision of August's figures. This caused Treasury yields to rise significantly and the iShares 20+ Year Treasury ETF (NASDAQ:TLT) to fall by 1.2%. Economists believe this increases the likelihood of another interest rate hike before the end of the year and accelerates expectations of rate hikes into 2024.
October 06, 2023 | 4:03 pm
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The iShares 20+ Year Treasury ETF (NASDAQ:TLT) fell by 1.2% following the release of the September jobs report, which exceeded expectations and led to a significant rise in Treasury yields.
The iShares 20+ Year Treasury ETF (NASDAQ:TLT) fell as a result of the unexpected surge in non-farm payrolls reported by the Bureau of Labor Statistics for September. This led to a significant rise in Treasury yields, which negatively impacts the price of the ETF. The likelihood of further interest rate hikes also contributes to the negative outlook for TLT.
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