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Jobs data came in super hot, sending US stocks lower and bond yields higher.
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The US economy added 353,000 jobs in January, way past expectations of 185,000.
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“Job creation heated up in January, perhaps causing some Federal Reserve officials to break out in a sweat.”
US stocks traded mixed on Friday after a fresh jobs report blew past expectations, forcing investors to rethink their bets on a Fed rate cut.
The economy added 353,000 jobs in January, way past estimates of 185,000. That increase is well above December’s revised numbers of 333,000 jobs added, which rose from an initial estimate of 216,000 jobs. Meanwhile, unemployment remained unchanged, clocking in at 3.7%.
The data is a sign that the labor market is still running too hot, which could push out the timing of the Federal Reserve’s first interest rate cut. Treasury yields spiked in response to…
