The U.S. labor market beat expectations in October, adding 128,000 jobs vs the 85,000 expected, according to Bloomberg. In the details, hourly earnings were up three percent from the year prior. In the markets, rates remain volatile and finished the week slightly higher as market optimism soars on the prospect of a phase one deal between the U.S. and China. The benchmark ten-year Treasury finished two basis points higher for the week to yield 1.86 percent. Tax-exempt yields finished slightly lower, lagging behind the moves in the taxable market.
Interest Rate Observations
Source: Thomson Reuters, Bloomberg. The table above reflects market conditions as of November 5, 2019.
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