
Employment data just crushed Treasury yields to 4.22% - here's what smart traders are doing
Key Points
- July jobs report saw only 73,000 new positions, leading to a...
The July jobs report delivered just 73,000 new positions when economists were expecting something closer to a decent coffee shop's weekend crowd. This underwhelming performance sent the 10-year Treasury yield tumbling to 4.22% - its lowest close since April, when people still thought this year would be different.
The bond market celebrated this lackluster employment news like it just won the lottery. Why? Because bad news for jobs often means good news for bonds, especially when everyone's betting the Federal Reserve will start cutting interest rates. Market participants are now pricing in an...
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