GLOBAL MARKETS-Stocks fall as strong U.S. payrolls muddies rate bets
Equities took a dip on Friday while U.S. Treasury yields climbed as investors bet on a more hawkish-than-expected Federal Reserve response to a strong U.S. jobs report with employers hiring more workers than expected in November and raising wages despite recession worries. The U.S. Labor Department reported that nonfarm payrolls increased by 263,000 jobs last month compared with economist expectations for 200,000 jobs. The report, which came two days after Fed Chair Jerome Powell said it could be time to slow the pace of rate hikes, made investors question whether the central banker would be able to follow through on his suggestion.
Published:12/2/2022 12:41:52 PM