Global shares, US yields rise after strong jobs data, debt-ceiling passage
Global shares and U.S. Treasury yields rose on Friday following stronger-than-expected job growth data that raised investor expectations that the Federal Reserve could retain its interest rate hikes. Labor Department data showed on Friday that the U.S. economy added 339,000 jobs last month, significantly higher than most estimates and suggesting tighter labor market conditions which might prompt a Fed rate hike. The market mood was also supported by the U.S. Senate passing bipartisan legislation on Thursday that lifted the federal government’s $31.4 trillion debt ceiling and averted what would have ...
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