According to CoinMeta, weak employment data weakened market expectations for a Federal Reserve interest rate hike, leading to an increase in U.S. Treasury yields. Data released by the U.S. Bureau of Labor Statistics showed that non-farm employment decreased unexpectedly by 23,000 in July, with the unemployment rate falling to 4.1%, and the labor participation rate continuing to decline. The yield on two-year U.S. Treasury bonds, which are sensitive to short-term adjustments in Federal Reserve monetary policy, fell by 8 basis points on Friday to 4.16%, while the yield on 10-year Treasuries fell by 6 basis points to 4.62%. An analyst from a financial group said, "The overall numbers in the employment report are completely shocking; I guess the Federal Reserve won't tighten policy in September."