The labor market is cooling as higher interest rates curb demand. Job growth slowed in October and the unemployment rate climbed to 3.9%, the highest level since January 2022. With 1.5 job openings per every unemployed person in September, conditions remain fairly tight.
Treasury curve rises across the board; 2-year rises 9.7bps to 5.079%, 5-year higher by 10.3bps to 4.680%, the 10-year increases by 10.3bps 4.662%, and the 30-
The U.S. dollar was lower against its major counterparts in the European session on Thursday, as dovish comments from Fed officials renewed hopes of a pause in interest rate hikes this month.
Commodity currencies such as the Australia, the New Zealand and the Canadian dollars came under pressure in the Asian session on Friday, as investors fretted about an upcoming recession.
The U.S. dollar was lower against its major counterparts during the European session on Thursday, as a bigger than expected slowdown in consumer inflation strengthened expectations that the Federal Reserve's hiking cycle may be nearing its end.