US Treasuries declined on Tuesday, November 3, 2026, following stronger-than-expected job openings data, signaling ongoing labor market resilience. The report suggested the Federal Reserve may have more room to raise interest rates to combat inflation, prompting a selloff that pushed yields higher by three to five basis points across maturities.
Traders adjusted their expectations, increasing the likelihood of at least two Fed rate hikes in the coming months. Earlier in the day, volatility in oil prices due to Middle East war headlines briefly caused yields to dip, but the job data ultimately drove the broader market sentiment.
The selloff occurred amid Election Day in the US, adding another layer of market uncertainty. The Treasury market's reaction underscored the sensitivity to economic indicators that could influence the Fed's policy decisions.