Amazon Powers Tech Shares; Bonds Fall on Jobs Beat: Markets Wrap

Traders give even odds to 50 basis point rate hike in March
Oil extends increases to seventh week; dollar index gains

WATCH: UBS Wealth Management is reasonably constructive in Greater China markets, says Hartmut Issel, head of APAC equities and credit.Source: Bloomberg

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By Jennifer Bissell-Linsk and Vildana Hajric

February 3, 2022 at 5:32 PM EST

Updated on

February 4, 2022 at 4:08 PM EST

This article is for subscribers only.

Treasuries fell after a strong U.S. jobs report increased bets of tighter monetary policy while U.S. stocks powered higher on bullish sentiment from Amazon.com Inc. earnings.

The yield on the U.S. 10-year note rose to 1.92% as traders gave roughly even odds to the chance the Federal Reserve will start to raise interest rates with a 50 basis point hike in March instead of a typical quarter point move.