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Bond Traders See Jobs Testing Hawkish Fed Pricing
The world’s biggest bond market halted a selloff that rattled trading around the globe, with investors gearing up for jobs data that will help shape the outlook for Federal Reserve rates. Treasuries stabilized after a rout that drove 30-year yields to the highest since 2023. The bond market closed at 2 p.m. New York time in observance of a national day of mourning for former President Jimmy Carter. US stock markets are shut. Meantime, the pound slipped to a more than one-year low and gilts sank on concern the Labour government will struggle to keep the deficit in check as borrowing costs surge. “While it might be ... (full story)