U.S Hiring Bounces Back, Allaying Fears of Slowdown [WSJ]
- Justin Jungwoo Lee
- Jul 7, 2019
- 1 min read
For some, it appears ironic that strong economic data led to a dent in the capital market: both equity and bond market.
Here is the reason why: the unexpected robust job market data that released on Friday has revealed that U.S. employers added 224,000 jobs to payrolls in June, and this news is viewed by the participants in the capital market as making it unlikely for the Fed to cut benchmark interest rate aggressively. Due to such expectations, both Dow Jones Industrial Average and S&P 500 fell 0.2% and the yield of 10-year U.S. Treasury note rose 2.044% (meaning bond price down) on Friday.
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