Yields and Dollar Rise After Strong US Jobs Report
Treasury yields and the dollar advanced while U.S. stocks declined following stronger-than-expected job growth data. The robust employment report boosted expectations for a potential Federal Reserve interest rate hike.
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United States nonfarm payrolls rose by 162,000 jobs last month, driving Treasury yields and the dollar higher while pulling stocks down on Friday. The data outpaced economists' forecasts of 56,000 new jobs. The stronger-than-expected labor market data fueled expectations for a Federal Reserve interest rate hike at the September meeting.
