Bonds & Stocks
Treasuries climbed as trio of jobs data reinforced the view the US labor market is shifting into a lower gear, which would trigger a Federal Reserve rate cut in two weeks. In the run-up to the payrolls report, data showed hiring at US companies trailed estimates while jobless claims hit the highest since June. The policy-sensitive two-year yield dropping two basis points to 3.60%.
Economy
Applications for US unemployment benefits rose to the highest since June, adding to evidence that the labor market is cooling. Initial claims increased by 8,000 to 237,000 in the week ended Aug. 30. The median forecast in a Bloomberg survey of economists called for 230,000 applications.
World
China’s financial regulators are considering a number of cooling measures for the stock market as they grow concerned about the speed of a $1.2 trillion rally since the start of August, people familiar with the matter said. The measures proposed to top policymakers in recent weeks include the removal of some short selling curbs, the people said, asking not to be identified as the information is private.