August 4, 2017 / 1:07 PM / 2 years ago

TREASURIES-Yields rise on strong jobs, wage data

    * Employers add 209,000 jobs in July
    * Wage growth meets expectations

    By Karen Brettell
    NEW YORK, Aug 4 (Reuters) - U.S. Treasury yields rose on
Friday after data showed that U.S. employers hired more workers
than expected in July, while wage growth also met economists’
    The Labor Department said nonfarm payrolls increased by
209,000 jobs last month amid broad gains. June's employment gain
was revised up to 231,000 from the previously reported 222,000.
    Average hourly earnings increased 9 cents, or 0.3 percent,
in July after rising 0.2 percent in June. That was the biggest
increase in five months. Wages rose 2.5 percent in the 12 months
to July, matching June's gain.             
    “It was strong across the board,” said Justin Lederer, an
interest rate strategist at Cantor Fitzgerald in New York. “It
puts (the Fed) still on track to start the program to wind down
the book in September."
    Many analysts and investors expect the U.S. Federal Reserve
to announce plans to reduce the size of its $4.5 trillion
balance sheet at its September meeting.
    Benchmark 10-year notes             were last down 7/32 in
price to yield 2.25 percent, up from 2.23 percent late on
    The yield curve between five-year notes and 30-year bonds
               briefly flattened below 100 basis points, the
lowest level since July 11, before steepening back to 101 basis

 (Editing by Lisa Von Ahn)
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