US Treasuries Slip for Second Day as New Jobless Claims Fall

Treasuries fell for a second day as fresh data showing resilience in the US labor market gave traders pause about the Federal Reserve’s path on interest-rate cuts

Yields settled about three basis points higher across most tenors, led by shorter-dated debt, which is more sensitive to changes in monetary policy. And interest-rate swaps showed traders slightly pared bets on Fed rate cuts. They are now pricing in 42 basis points of reductions by the end of the year, with the first full cut coming by the October meeting.