Posted on 04/05/2024 6:43:03 AM PDT by Miami Rebel
Rates on U.S. government debt jumped Friday morning after data showed the U.S. created far more jobs than expected in March and signaled that the economy might be speeding up.
What’s happening
The yield on the 2-year Treasury BX:TMUBMUSD02Y was 4.710%, up 6.9 basis points from 4.641% on Thursday. Yields move in the opposite direction to prices.
The yield on the 10-year Treasury BX:TMUBMUSD10Y was 4.382%, up 7.4 basis points from 4.308% on Thursday.
The yield on the 30-year Treasury BX:TMUBMUSD30Y was 4.533%, up 6.4 basis points from 4.470% on Thursday.
Yields were on track for their largest one-day jumps since Monday.
In addition, 2- and 10-year rates were headed for their biggest weekly gains since the period that ended on March 15. The 30-year rate was poised for its biggest weekly advance since the period that ended Oct. 20.
What’s driving markets
Data released on Friday showed that the U.S. created a whopping 303,000 jobs last month, or about 50% more than the median estimate of economists polled by the Wall Street Journal, who expected a 200,000 increase. The increase was the biggest in more than a year.
(Excerpt) Read more at marketwatch.com ...
Nearly all the jobs added since Biteme squatted in the WH are illegal aliens.
It’s even less likely to be correct. None, let me repeat that, none of the jobs reports have been correct on their initial release. Every one has been revised downward. In addition, they omit pertinent information such as the jobs created were low-level parttime jobs, as well as, omitting that fulltime jobs have been lost.
Celebrating Economy decent into hades …. democrats celebrate only when all hades is breaking lose.
Exactly, this report, like so many in the Biden Era, will be quietly revised downward.
What’s driving markets
As the article spells out, wage growth is still taking place though at a very modest rate.
Wage growth is wage growth, so whether for high-paying or low-paying jobs it adds to interest rate pressure. Today’s bond action bears that out. Bonds tend to be a much better gauge of economic activity that stocks, which are influenced heavily by emotions. and they are getting whacked this morning.
And while I agree that numbers can and are subject to revision, today’s release was far beyond expectations and is a continuation of a months-long trend. Even with potential downward revisions it’s a whopper.
Bottom line: it’s not as though this bump is an unmitigated win for the administration. It shows that inflation is not being tempered by the Fed.
You are right on the button but even after the adjustment it will still show an increase, like the former months. I guess we can say the FED hasn’t broken the economy yet. We can certainly see why people who don’t have to move will sit tight if they have a low-rate mortgage. Maybe Biden will forgive all those commercial loans like he did the student loans, ha-ha-ha.
“What’s driving markets”
Earnings.
Increases how? Be specific.
Doubtful the Fed can cut rates even once, and certainly not 3 times more this year.
“What’s driving markets”
Earnings.
I understand your statement and it was true in the past, but things are different now.
It’s even less likely to be correct. None, let me repeat that, none of the jobs reports have been correct on their initial release. Every one has been revised downward. In addition, they omit pertinent information such as the jobs created were low-level parttime jobs, as well as, omitting that fulltime jobs have been lost.
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They are not new just COVID eliminated jobs that existed and finally owners can open up again and rehire
The strong jobs report is a double-edged sword: the economy is far from slipping into recession
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Get back with us in summer….Senile Joe’s employment figures are a known fraud.
‘Creating’ GOVERNMENT JOBS is not accelerating the economy................
Seems like only yesterday that Biden was playing his “demented doddering
old codger act” to con Hur WRT Biden’s mishandling of classified documents.
But today, after revving up his campaign, Biden is now
“a trusted beacon of Democrat leadership,”
with his steady hand firmly on the economic tiller.
Eliminating them would.
Pig
Gaslighting.....so Dems can elevate doddering Joenothing as the triumphant hero.
I can hear them crowing now:
“He’s a trusted beacon of Democrat leadership,
Biden won by 100 million votes, against all the odds.”
True. The Japanese tried this in the 80’s. Didn’t work for them either..............
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