Treasuries sell-off and stock futures rally on strong US jobs report

US Treasuries sold-off and the dollar advanced on Friday after the November jobs report showed the economy added jobs at the quickest pace in 10 months.

The yield on the policy-sensitive two-year Treasury note rose 5.5 basis points to 1.6351 per cent, while that on the 10-year climbed 5.2 bps to 1.8468 per cent. Yields move inversely to price.

US stock futures extended their gains with S&P 500 futures up 0.5 per cent and Nasdaq 100 futures up 0.7 per cent. Meanwhile, the dollar index, a gauge of the buck against a weighted basket of peers, climbed 0.2 per cent.

Hiring had been expected to rebound last month as General Motors employees returned to work but Friday’s report blew past economists’ expectations.

More to come . . . 


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