U.S. Treasury yields fell after December monthly jobs report that fell short of expectations. The economy gained 148,000 jobs in December after an average gain of 232,000 jobs over the previous two months. Economists polled by MarketWatch had predicted a 198,000 increase in nonfarm jobs. The 10-year Treasury yield fell 2 basis points to 2.439% from 2.465% prior to the release of the employment report. Meanwhile, the yield for the 2-year Treasury, the most sensitive to shifting data, saw a more pronounced 4-basis-point decline to 1.931% from an earlier 1.972%.
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