10-year Treasury yield sees biggest one-day jump since 2022 after unexpectedly strong January jobs data

Treasurys sold off aggressively after Friday’s surprising January jobs report, sending the 10-year yield up by its most in a single day in more than a year.

What happened

What drove markets

In data released on Friday, the U.S. added a surprising 353,000 new jobs last month, easily beating economists’ median expectation for a 185,000-job gain. The unemployment rate stayed at 3.7% and hourly wages rose a sharp 0.6%, their biggest increase in almost two years.

After…