2-year Treasury yield hits fresh 15-year high ahead of key labor market data

The 2-year Treasury note reached a fresh 15-year high on Friday, as markets continued to digest the Federal Reserve's rate hike and looked ahead to the release of key labor market data.was last at 4.7464%, rising by more than four basis points and trading at a level not seen since 2007.

Fears of a looming recession fueled by the hikes have spread in recent weeks as the Fed's fight against persistently high inflation continues. On Friday, non farms payroll and unemployment figures for October will be released. As tightness in the labor market is a key driver of inflation, investors will be scanning the data for signs about the state of the U.S. economy and whether price rises are easing.

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