NEW YORK/LONDON (Reuters) -Treasury yields jumped, the dollar surged and global equities edged higher on Friday after a blowout U.S. jobs report scuttled any lingering hopes for a near-term cut in interest rates and underscored a strong economy that can ward off a recession. Nonfarm payrolls increased by 353,000 jobs in January, the Labor Department’s Bureau of Labor Statistics said, almost double the 180,000 forecast by economists polled by Reuters. The benchmark 10-year Treasury note yield shot above 4% and the dollar gained against all major currencies as employers added far more jobs than expected and average hourly earnings increased 0.6% after rising 0.4% in December. The data came after the Federal Reserve on Wednesday pushed back against expectations for…
Published Date: 2024-02-02
Source: StreetInsider.com
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