Bonds & Stocks
Treasuries fell as faster-than-expected US job and wage growth prompted traders to trim back bets that the Federal Reserve will cut interest rates this year. The declines on Friday pushed yields across maturities higher by at least five basis points.
Economy
Nonfarm payrolls increased 139,000 last month after a combined 95,000 downward revisions to the prior two months, according to Bureau of Labor Statistics data out Friday. The unemployment rate held at 4.2%, while wage growth accelerated.
World
The Canadian economy eked out minor job gains, and the unemployment rate rose for a third straight month to the highest level since September 2016 outside of the pandemic.