stock market news: Stocks, bonds struggle for momentum into US jobs: Markets wrap

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Stocks, bonds and major currencies held to tight ranges Friday as traders prepared for US jobs data that will help determine the size of a Federal Reserve rate cut later this month.

Shares in Japan fluctuated, as the yen stabilized after a rally this week, while those in Australia were little changed. Futures for US equities slipped after the S&P 500 ended Thursday lower. Pre-opening trading of Hong Kong securities was shut Friday due to Super Typhoon Yagi.

Treasury yields opened steady in the Asian session after minor declines Thursday, adding downward pressure on the greenback. The Bloomberg dollar index, which tracks the US currency against a basket of peers, inched lower early Friday after a 0.2% drop on Thursday. Australian and New Zealand bonds were little changed.

The muted moves come ahead of a nonfarm payroll report that will cast fresh light on the health of the US jobs market. Traders are still pricing in over 100 basis…

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