Treasury Yields Reverse Higher After Soft US Jobs Report

The US employment report for September was softer than expected, leading to an initial decline in Treasury yields and a weaker dollar. However, this move did not hold, as yields reversed higher later in the session.

The Nasdaq 100 closed at a record high, with technology stocks outperforming the broader market. Nvidia reached a new all-time intraday high but finished below its previous record close.

The softer jobs report eased concerns about additional Fed restraint, but the recovery in yields created a less favorable backdrop for traders. The US dollar ended lower against most major currencies, except for the Canadian dollar.