Strong Data, But More Needed for 3% Treasury Yield

        08:49 EDT - The 10-year Treasury yield snaps up after a strong jobs report, but remains close to a three-month low. Gary Pollack, head of fixed-income trading at Deutsche Bank's private wealth management unit, says he expects the 10-year yield to rise to 2.8%-2.85% in the next month, but adds that for the yield to rise to 3%, "we need more strong data." Pollack noted that today's report still showed slack in the labor market with little inflation pressure, which means the Fed is not going to accelerate the pace of withdrawing monetary stimulus, keeping a lid on bond yields. Ten-year notes down 21/32, yielding 2.682%. (min.zeng@wsj.com; @minzengwsj)
        (END) Dow Jones Newswires

        May 02, 2014 08:49 ET (12:49 GMT)