Soft July Job Numbers Won't Sway Fed
The U.S. government's report on job growth for July—along with a closely watched survey of the service sector—showed some softness for two key components of the U.S. economy. A smaller than expected rise in the key nonfarm payrolls figure in the July jobs report will provide fuel for bond-market bulls to continue to focus on downside risks for growth as they look for acknowledgment—from the Federal Reserve's statement at its Aug. 7 policy meeting—of some signs of weakness in the economy.
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