Bonds Slip as Promise of Second Big Fed Cut Curbed: Markets Wrap
- Resilient jobs numbers send US dollar higher; yen falls
- ‘Labor market is bending but not breaking’: E*Trade’s Larkin
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Treasuries slid and the US dollar climbed after stronger-than-expected jobs numbers dampened Wall Street’s confidence that the Federal Reserve’s next interest-rate cut would be a big one.
Ten-year yields closed in on 3.8% after hitting a low of 3.69% in the prior session amid a flare-up of tensions in the Middle East. The dollar reached nearly a two-week high after the labor readout as traders pondered the scope of the Fed’s next move.