Treasuries spike after weaker-than-expected jobs number

Treasuries spike after weaker-than-expected jobs number

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After closing at the year's high at 3.2 percent Thursday, the yield on the benchmark 10-year USA treasury is seeing incremental strength and was at 3.24 percent Friday, the highest since the 3.26 percent reached May 3, 2011. -China trade spat will intensify.

The S&P 500, meanwhile, lost 11 points to 2,914, pushed down by Coty Inc, Estee Lauder Companies, Ralph Lauren, Gap and Western Digital Corp. The Russell 2000 index lost 14.80 points, or 0.9 percent, to 1,632.11. A spike in this market-driven rate could also result in market turbulence, putting a dent in the 401 (k) retirement savings accounts of millions of workers who own stocks and bonds.

Despite the pullback, United States stocks are trading near record levels, raising concerns about valuations with the earnings season just around the corner.

At around four-year highs, oil prices have triggered concerns about demand as U.S. President Donald Trump has blamed the Organization of the Petroleum Exporting Countries for rising gasoline prices for American consumers.

Fed Chair Jerome Powell said on Wednesday that the US central bank had a long way to go before interest rates hit neutral, indicating that more hikes could be on the horizon. His criticisms of the SEC don't appear to be company news, but they may have anxious investors who hoped his feed would be a little more boring from now on. "And we have the issue of the two naval boats in China, which raises it to more than just an economic issue - there's political tensions there".

Indexes in Europe and Asia also fell and government bond yields rose. The dollar turned lower versus major peers.

"The follow-through on the Treasury rates today, actually the follow-through worldwide on Treasuries, has a big part to do with this", said JJ Kinahan, chief market strategist at TD Ameritrade in Chicago. "It will be volatile, it will chop around in both directions". The hiring figures were influenced by the hurricane that hit the Southeast last month, muddling the picture. Nixon said that means the Fed is intent on raising rates further, and investors aren't sure when it intends to stop.

Earlier, a rout in technology shares roiled Asian equity markets.

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"There is no material slowdown in the USA economy". Germany's 30-year bond was poised for its biggest one-week yield increase since April.

Terminal users can read our Markets Live blog. The S&P 500 fell 23.90 points, or 0.82 percent, to 2,901.61. Silver added 0.4 percent to $14.65 an ounce.

Apple shares closed about 1.2 percent higher, contributing to the Nasdaq.

The Nasdaq composite fell 9 points, or 0.1 percent, to 7,869.

The dollar index .DXY was flat, with the euro EUR= up 0.31 percent to $1.1512. Retailers also declined and Amazon gave up 1 percent to $1,889.65. India's benchmark 10-year sovereign yield rose to 8.16 per cent. Stocks markets crashed up to 2.24 per cent due to heavy selling pressure banking, energy, pharma and IT stocks. The yield stood at 3.225 percent Friday, up 0.9 percent.

The dollar barely budged against its main sparring partners the euro and the Japanese yen after testing a 10-week high, but rising bond yields - which drive the global cost of borrowing - were causing a headache again.

Gold rose 0.3 percent to $1,205.60 an ounce.

Copper fell 0.3 percent to $2.78 a pound, the lowest in more than two weeks.

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