04 Apr '23 at 9:45 am #56171
U.S. Treasuries trade on their highs after a swift bounce off their morning lows. The trading day started with modest losses across the curve and relative weakness up front, but the entire complex bounced into positive territory after the just-released Job Openings and Labor Turnover survey for February showed that job openings fell by more than 600,000. When compared to January’s unrevised total, job openings were down nearly 900,000 in February. The sharp fall will invite questions about the strength of the labor market, and by extension, the broader economy, which explains the bounce in Treasuries.