Yields, expectations for rate hikes rise after US jobs' market report
Yields are rising in the US bond market Friday following a highly anticipated report on the US job market.
The US stock market is closed in observance of Good Friday, as are many markets across Europe. That leaves the US bond market as one of the few open to react to the latest jobs update, which showed hiring lost a bit more momentum than expected last month but largely remained resilient.
The data was so anticipated because it could offer a big clue for the Federal Reserve, which faces a tough decision on interest rates that will affect the entire economy.
Should it keep raising rates in order to drive down inflation that's still high? Or should it hold off given all the signs of slowing across the economy and stress in the banking system that's already been caused by the past year's swift surge in rates?
The immediate reaction from the bond market Friday morning seemed to lean toward another hike. Not only did yields rise for Treasurys, so did bets for the Fed to raise rates by