Treasury Bond Yields Post-Jobs

Here is what the yield curve thinks about the good Jobs report…

10, 5 & 2 year Treasury yields from Bloomberg

Players are flying out of liquidity storage (short term T bonds) much more actively than longer term bonds, driving 2 year yields up hard.  That means players are running away from a risk ‘OFF’ stance.  That in turn may mean that the stock market rally can continue, though futures are absolutely flat at the moment.  It goes without saying that Treasury bond yields, and the Jobs report itself are not positive for gold when taken at face value in a one day snapshot.