---
title: "Nonfarm Payrolls: 162K, 10s -2bp · Fri 04 Sep 2026"
description: "Treasuries (close 2026-09-03): 2s 4.34% (-5.0bp), 10s 4.77% (-2.0bp), 30s 5.25% (-2.0bp). Tape (close 2026-09-03): VIX 14.32, 2s10s +43bp."
source: Helious
canonical: "https://helious.io/news/brief-2026-09-04/nonfarm-payrolls-162k-10s-2bp-desk-brief-fri-04-sep-2026"
---

Daily brief
              04 Sept 2026, 21:05 UTC



# Nonfarm Payrolls: 162K, 10s -2bp

desk brief, Fri 04 Sep 2026



            Treasuries (close 2026-09-03): 2s 4.34% (-5.0bp), 10s 4.77% (-2.0bp), 30s 5.25% (-2.0bp).

Tape (close 2026-09-03): VIX 14.32, 2s10s +43bp.

Narrative: Fed's Waller channels his inner John Lennon with a plea to 'give disinflation a chance'

What mattered:

- Nonfarm Payrolls: 162K
- Trump doubles down on threat to halt trade with top partners unless Fed cuts rates
- Trump: We took out a lot of ships through Hormuz last night.
- Fed’s Hammack says policy Is not restrictive enough
- Trump threatens to cut trade with some countries if Fed doesn’t lower rates






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