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Yields on the rise after jobs beat

Published 06/01/2018, 08:40 AM
Updated 06/01/2018, 08:40 AM
© Reuters.  Yields on the rise after jobs beat
  • Alongside the strong 223K jobs added in May, April's count was revised slightly lower, and March modestly higher.
  • Average hourly earnings gained $0.08 to $26.92, now up 2.7% on a year-over-year basis - inline with estimates.
  • The unemployment rate slipped to 3.8% - its lowest level since 2000. The broader U-6 unemployment rate fell to 7.6% from 7.8%. That drop in unemployment, however, came at least in part thanks to another dip in the labor force participation rate to 62.7%.
  • Full report
  • Treasury yields are rising further, the 10-year now up five basis points to 2.913%. TLT -0.9%, TBT +1.8%
  • The dollar (UUP, UDN) has gained modestly on the news, and gold (NYSEARCA:GLD) has slipped about $6, now off 0.5% on the session at $1,298 per ounce.
  • Previously: 223K jobs added in May; UE rate dips to 3.8% (June 1)
  • Now read: GLD Breaks Below Key Short-Term Support


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