WS #17041
US payrolls rose by 165,000, significantly beating the consensus estimate of 65,000. This robust labor data has pushed the 2-year Treasury yield up 6 basis points to 4.53% and strengthened market pricing for a December rate hike to approximately 70%. The data provides a floor for the broader market, countering the tech selloff with macroeconomic resilience, though it keeps pressure on rate-sensitive growth assets.
US Labor Market & Rate Hike Odds
US payrolls rose by 165,000, significantly beating the consensus estimate of 65,000. This robust labor data has pushed the 2-year Treasury yield up 6 basis points to 4.53% and strengthened market pricing for a December rate hike to approximately 70%. The data provides a floor for the broader market, countering the tech selloff with macroeconomic resilience, though it keeps pressure on rate-sensitive growth assets.