6Aug2022 美国就业数据强势,持续加息可能性大

【今日单词】subdued /səbˈdjuːd/adjective1.(of a person or their manner) quiet and rather reflective or depressed."I felt strangely subdued as I drove home"2.(of colour or lighting) soft and restrained."a subdued glow came through the curtains"-----------------------------原文如下：The day in the markets(来自：The Financial Time 金融时报)What you need to know• US government bonds and Wall Street stocks slide following strong jobs report• Traders crank up expectations for interest rate rises after big hiring pick-up• The dollar tracks Treasury yields higher as pound, euro and yen retreatUS government bonds and stocks sold off yesterday after employment data showed red hot labour conditions, leading traders to boost their expectations for Federal Reserve rate increases.Treasury yields shot higher after the closely watched US jobs report showed employers added 528,000 jobs in July, more than double the 250,000 expected by economists and up sharply from 398,000 in June.The two-year Treasury yield, which is sensitive to monetary policy expectations, surged more than 20 basis points to 3.26 per cent — a sharp jump for a market that typically moves in small increments. Long-dated bonds came under more subdued pressure.Meanwhile, the S&P 500 fell 0.6 per cent by the afternoon as traders worried about the prospect of further hawkish rate rises from the Fed.“The narrative is going to be that it’s come in way too hot, the Fed is right and the markets were wrong,” said Jim Paulsen, chief investment strategist of The Leuthold Group.Trading in federal funds futures now shows that markets are expecting the Fed’s main interest rate to hit 3.64 per cent in February 2023, from an estimate of 3.42 per cent in the previous session. The federal funds rate currently stands at a range of 2.25 to 2.50 per cent.The strong jobs data, which also showed the unemployment rate ticking down, pushed back against concerns that the world’s biggest economy may be headed for a recession.It could also give the Fed impetus to continue with its rapid increases after it pushed borrowing costs higher by 0.75 percentage points in both June and July.“The unexpected acceleration in non-farm payroll growth in July, together with the further decline in the unemployment rate and the renewed pick-up in wage pressure, make a mockery of claims that the economy is on the brink of recession,” said Michael Pearce, economist at Capital Economics, who added that “all the details [of the report] appear to support continued aggressive rate hikes from the Fed”.The US dollar followed Treasury yields higher, with an index tracking the currency against half a dozen peers gaining almost 1 per cent.The pound and euro each dipped about 0.7 per cent while the Japanese yen tumbled about 1.8 per cent.The pan-regional Stoxx Europe 600 equities index fell 0.8 per cent after gains for Asian indices. 

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