US Government Shutdown Raises Treasury Yields, Delays Economic Data

U.S. Treasury yields have generally inched higher amid the ongoing government shutdown, which began after Democrats and Republicans failed to agree on a temporary funding bill, with President Donald Trump maintaining a firm stance in negotiations. The shutdown has led to a pause in key economic data releases, such as the September nonfarm payrolls report, complicating the Federal Reserve's upcoming interest rate decisions. Treasury Secretary Scott Bessent warned that the shutdown could negatively impact GDP growth and labor market conditions, while also noting inflation concerns tied to reopening demands. Despite the shutdown's economic uncertainties, historical data suggests limited long-term impact on major financial assets, with previous shutdowns coinciding with stock market gains and lower Treasury yields. Investors are increasingly relying on alternative data sources like the ADP private sector job report to assess economic stability in the absence of official government data. Meanwhile, in Nigeria, Treasury bill yields slightly declined amid mixed movements in government bonds, reflecting tight liquidity and investor rebalancing in the fixed-income market.