Business
Treasury Yields Whipsawed By Oil Prices, Jobs Data
A topsy turvy day has Treasury yields ending Friday’s session lower, while still logging hefty weekly gains.
Yields, which move in the opposite direction of bond prices, initially climbed overnight with oil prices. They then fell immediately after a disappointing jobs report, only to rebound and then fall again.
Bonds are facing strong crosscurrents. Pushing up on yields, rising energy prices are making investors worried about a rebound in inflation that could make it harder for the Federal Reserve to cut interest rates. Even so, some investors think that the Middle East conflict could eventually cause yields to fall by slowing the economy and increasing demand for safer assets.