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Financials lower after soft jobs numbers; BofA down 1.3%

Published 06/02/2017, 09:16 AM
Updated 06/02/2017, 09:16 AM
© Reuters.  Financials lower after soft jobs numbers; BofA down 1.3%
  • The yield curve is flattening after just 138K jobs were added in May, and April and March job gains were revised lower. The unemployment rate did slip to a 16-year low, but this came amid a sizable drop in the labor force participation rate.
  • The 10-year Treasury yield has retreated to its 2017 low of about 2.17% - this as the FOMC preps to hike short-term rates in a few days.
  • Premarket action: BAC -1.3%, JPM -0.8%, WFC -0.95%, MET -1.3%, GS -0.7%, PNC -0.4%, RF -1.4%, XLF -0.7%, KRE -1.1%, FAZ +1.3%
  • Previously: Treasury yields return to 2017 low after soft jobs numbers (June 2)
  • Previously: Just 138K jobs added in May; UE rate dips to 4.3% (June 2)
  • Now read: Bank Of America: A Must Own For This 1 Reason Alone


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