Hot May jobs data lift U.S. Treasury yields, dimming rate-cut bets

A stronger-than-expected May payrolls report kept the labor market resilient, sending U.S. Treasury yields higher: the 10-year rose to about 4.538%, the 2-year to 4.153% and the 30-year to 5.005%, with unemployment at 4.3% and leisure/hospitality leading gains, reinforcing bets that the Fed will delay rate cuts.