Overview

• U.S. 30-year Treasury yields, which briefly touched 5% on Wednesday, hovered near 4.88%–4.90% on Thursday as investors awaited ADP, jobless claims and Friday’s payrolls report.
• Weak U.S. JOLTS data showing job openings at a 10‑month low boosted expectations of Federal Reserve rate cuts, helping pull long-term yields lower and flatten recent stress.
• A 30‑year Japanese government bond auction drew solid demand, easing record-high long-end yields there and reinforcing the broader retreat in global duration.
• UK 30-year gilt yields, after spiking to roughly 5.75% for a 27‑year high, fell back following the Treasury’s confirmation of a November 26 Budget date and supportive signals from markets.
• Bank of England Governor Andrew Bailey said the rise in long maturities reflects global forces and indicated recent turbulence will inform the pace of quantitative tightening, while a U.S. push to uphold tariffs at the Supreme Court followed a ruling that had earlier pressured Treasuries.