10-Year Treasury Note futures are trading at their highest level in five months. The rally was driven by a focus on the US labor market, as JOLTS job openings data came in below expectations. This indicates a softening labor market, leading to a shift in expectations for the non-farm payrolls report later this week. As a result, yields moved lower across the entire curve, with the 10-year yield falling to its lowest level since early August.
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