The Direxion Daily 20+ Year Treasury Bull 3X Shares ETF (TMF) closed at $37.30 on January 10, down 2.07%, as U.S. Treasury yields surged following a robust jobs report. The underlying 20-year Treasury yield rose to 5%, reflecting heightened expectations of prolonged high interest rates. The December jobs report, revealing 256,000 new jobs and a drop in unemployment to 4.1%, has fueled concerns about persistent inflation and the Federal Reserve's potential delay in rate cuts. This has led to a selloff in the Treasury market, with the 30-year bond yield surpassing 5% for the first time since late 2023. The market is now bracing for the possibility of further rate hikes, as inflation remains above the Fed's 2% target. The selloff in Treasuries is part of a broader global bond market decline, exacerbated by fiscal concerns and the upcoming Trump administration's policies.