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July jobs report could be ‘nail in the coffin’ for higher rates
If the July jobs report on Friday realizes the worst fears of Wall Street, it could ring the death knell for the few bond bears left in the Treasurys market. Traders insist another shock to the labor market could inspire a further rally in haven debt, even with yields for government bonds already near their record lows. Fresh signs that the U.S. employment is taking a longer time to recover than hoped, traders argue, could add to growing economic pessimism, as COVID-19 cases rise across the country and lawmakers tussle in Congress over another fiscal stimulus package, triggering yet another flight to safetly among ... (full story)