Treasuries Rise 2.5% on Weak January Jobs; Yields Drop to 4.75%

U.S. Treasury yields fell sharply on February 5, 2026, as weak January employment data depressed risk sentiment. The 10-year yield dropped to 4.75%, its lowest in nearly two months, while two-year yields fell to 4.52%, the lowest since December 2024. The nonfarm payrolls increased by 125,000, well below the 200,000 median forecast, and the unemployment rate remained at 3.8%, the lowest in over a decade. The weaker-than-expected jobs report suggested a less aggressive Fed policy path in 2026, boosting safe-haven demand for Treasuries.