*JOBS REPORT JOLTS WALL STREET BULLS AS INFLATION, RATE HIKE FEARS RETURN - 🇺🇸 🇺🇸
NEW YORK - Much stronger-than-expected U.S. job growth stopped early-year rallies in stocks and bonds dead in their tracks on Friday, forcing Wall Street to recalibrate expectations for how much more hawkish the Federal Reserve will need to be in its fight against inflation.
But Friday's data, which showed U.S. employment growth accelerating sharply in January, renewed the inflation concerns that hammered stocks and bonds last year, reinforcing some investors' belief that the twin gains in both asset classes may have gotten ahead of themselves.was down about 1% on Friday though still up 8% on the year. Yields on the benchmark 10-year Treasury, which move inversely to prices, gained 12 basis points despite having declined by 30 basis points this year.
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