U.S. treasuries sink as jobs fuel rate-hike bets

U.S. treasuries sink as jobs fuel rate-hike bets

From bnnbloomberg.ca

Treasuries sank after data showed a booming labor market that might prompt the Federal Reserve to raise rates sharply at its next meeting. The two-year Treasury yield jumped toward 3.2 per cent while the 10-year rate pushed past 2.80 per cent after employers added 528,000 jobs last month, more than double what economists expected. Wage growth also came in stronger than anticipated. The S&P 500 wavered after dropping as much as 1 per cent, as investors speculated the threat of recession has receded enough that corporate earnings can remain robust. Rate-sensitive sectors such as big tech retreated, though also ... (full story)

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