CNBC·3 min read·medium
Treasury yields drop after surprise jobs loss in July
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Yun Li, Sean Conlon, Hugh Leask
✦AI Summary
U.S. Treasury yields fell significantly after a surprise loss of 23,000 jobs in July, far missing the expected gain of 83,000. This unexpected labor market weakness has led traders to reduce expectations for Federal Reserve interest rate hikes.
Treasury yields fell Friday after data showed the U.S. economy unexpectedly lost 23,000 jobs in July, raising fresh concerns about the labor market while dimming the immediate outlook for higher Fed interest rates.
economybusiness
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