Story perspectives

Treasury Yields Drop as JOLTS Openings Surge, Fed Hike Expected

6/3/2026

Summary

Story summary

U.S. Treasury yields fell after April JOLTS showed 7.62 million openings, above the 6.87 million median.
Swaps priced in a full quarter-point Federal Reserve (Fed) hike for March 2027 and 18 basis points of tightening for December.
Real yields and the ten-year breakeven inflation rate hit their highest since 2023 as oil prices rose.
Cleveland Federal Reserve President Beth Hammack voted against the April statement, warning that more restrictive rates may be needed.

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Story summary

U.S. Treasury yields fell after April JOLTS showed 7.62 million openings, above the 6.87 million median.
Swaps priced in a full quarter-point Federal Reserve (Fed) hike for March 2027 and 18 basis points of tightening for December.
Real yields and the ten-year breakeven inflation rate hit their highest since 2023 as oil prices rose.
Cleveland Federal Reserve President Beth Hammack voted against the April statement, warning that more restrictive rates may be needed.