© Reuters. FILE PHOTO: A man walks past an electronic board showing Japan’s Nikkei average and stock prices outside a brokerage, in Tokyo, Japan, March 17, 2023. REUTERS/Androniki Christodoulou/File Photo
By Herbert Lash
NEW YORK (Reuters) – Treasury yields jumped, the dollar surged and world equities rallied on Friday after a blowout U.S. jobs report scuttled any lingering expectations of a near-term cut in interest rates and highlighted a strong economy.
Nonfarm payrolls increased by 353,000 jobs in January, the Labor Department’s Bureau of Labor Statistics said, almost double the 180,000 forecast by economists polled by Reuters.
The benchmark 10-year Treasury note yield shot above 4% and the dollar gained against all major currencies as employers added far more jobs than expected and average hourly earnings increased 0.6% after rising 0.4% in December.
The data came after the Federal Reserve on Wednesday pushed back…
