The heavily impacted USA bond market is seeking a respite from Friday's non-farm payroll report. Since mid-September, USA bond yields have risen sharply, with the 20-year USA bond yield exceeding 5%. Some strategists indicate that while Put bets have been increasing, the rapid rise in yields may suggest that strong employment data harms the market less than weak data supports it. Subadra Rajappa, head of USA interest rate strategy at Societe Generale, stated that if the December employment data is strong, there is room for the 10-year treasury yield to rise to 4.75%, but to reach 5%, the new government may take specific policy actions. Conversely, if the unemployment rate rises or employment data is weak, yields will fall further, as the market seems slightly ahead in reducing bets on Federal Reserve rate cuts.