Dollar Jumps as Treasuries Slide After Jobs Data; Stocks Slip
U.S. Adds 280,000 Workers in May, Jobless Rate at 5.5%
The dollar surged to a 13-year high versus the yen and Treasuries tumbled after a jump in payrolls bolstered the case for raising interest rates. U.S. stocks were slipped amid speculation the economy can withstand higher rates, while Europe’s bond selloff resumed as Greece deferred a debt repayment.
The Bloomberg Dollar Spot Index added 0.8 percent at 4 p.m. in New York, with the greenback rising to 125.49 yen. The yield on 10-year Treasuries increased 10 basis points to 2.40 percent. German bunds capped their worst week since 1998. The Standard & Poor’s 500 Index slipped 0.1 percent after swinging between gains and losses. The Stoxx Europe 600 Index dropped 0.9 percent to cap a weekly decline.