There’s a fire sale in the bond market, and the November jobs report could make it burn even hotter.
The wild move came amid speculation that Friday’s employment report could be better-than-expected and drive interest rates even higher.
Interest rates surged Thursday, with the 10-year yield spiking as much as 12 basis points — or 0.12 percentage points — at its peak, to 2.49 percent, the highest yield since June 2015. Yields move inversely to prices and rates snapped higher across the whole yield curve.
