-
Jobs report: Recession fears fade, but blowout number not enough to move Fed
June's strong jobs report dashes some recession fears, but it is not a strong enough catalyst to get the Fed moving yet on hiking interest rates. A surprising 287,000 jobs were created in June, more than 100,000 above forecasts. The number was viewed as payback for a stunningly weak May report, which was revised even lower — from 38,000 to 11,000. Stocks surged and Treasury yields moved higher. The dollar reversed earlier losses. Market expectations for a Fed rate hike this year increased. Fed funds futures implied a still-low 24 percent chance of a hike for December, but that was up from 12 percent Thursday, ... (full story)