Stocks experienced volatility following the release of JOLTS data last Tuesday, while equities showed mixed reactions to the NFP figures released on Friday. However, the Treasury market, particularly the 30-year Treasury bond, saw more significant movements. The 30-year bond's yield initially dropped to 4.18% but rebounded above 4.3% after traders analyzed a slew of economic data released on Friday. This data included a strong ISM Services report with robust Employment and Prices Paid components. As a result, the yield curve flattened, with the rate difference between the 2-year and 10-year notes narrowing to just under -0.7 percentage points.
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