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June 5, 2026 at 9:30am ET
Jobs Report Today: Treasury Yields Jump After Strong May Payrolls
Stock futures pare earlier losses
A stronger-than-expected May jobs report is sending Treasury yields climbing.
The 10-year Treasury yield jumped past 4.5% this morning, after the Labor Department said employers added 172,000 jobs in May, more than double the 80,000 forecasted by economists. The two-year yield, which is more sensitive to near-term interest rate expectations, climbed above 4.1%.
A selloff in U.S. stock futures initially deepened before paring their losses. Contracts have traded lower throughout the morning as the AI-driven market rally takes a breather.
The May jobs report offers the first major look at the U.S. labor market since Kevin Warsh assumed the role of Fed chair.
Expectations for an interest-rate hike from the Fed this year rose after the report’s release. Traders now see a nearly 70% chance officials will hike rates by the end of the year, compared to a little less than 50% before the report’s release, according to CME data.
— By Caitlin McCabe
Read Original at WSJ →