The Presidential Daily Brief

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  1. 10-Year U.S. Treasury Yield Rises to 3% as Jobless Claims Drop

    The yield on 10-year notes hit 3% on Thursday as bond prices dropped, largely in response to a better-than-expected jobs report that furthered expectations that the Federal Reserve will continue to scale back its bond-buying program in 2014. The 10-year Treasury yield is one of the most-watched financial rates in the world; its rise to its highest levels of the year may signal a new reality of higher borrowing costs for American businesses and consumers. Though the U.S. economy added jobs at a higher rate in the second half of the year, 1.3 million Americans who remain unemployed will suffer another setback this weekend as federal jobless benefits, introduced in 2008, expire on Saturday.

    Sources: WSJ (sub), CNN, Al Jazeera, USA Today

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