Bonds & Stocks
Treasury yields climbed and stocks wavered after the latest jobs report showed a moderating - yet healthy labor market - that will likely make the Federal Reserve hold rates steady for now. The yield on 10-year Treasuries advanced five basis points to 4.48%. The S&P 500 was little changed. The Bloomberg Dollar Spot Index fluctuated.
Economy
US job growth moderated in January after annual revisions revealed less vigor in the labor market last year than previously thought. Nonfarm payrolls increased by 143,000 last month, and job growth averaged 166,000 a month last year, a slowdown from the initially reported 186,000 pace. The unemployment rate came in at 4.0%.
World
Brokers are issuing upbeat calls, with Deutsche Bank predicting that 2025 will be the year the investing world realizes China is outcompeting the rest of the world, and HSBC saying the valuation gap between China and emerging markets may narrow.