Weekly jobless claims fall relieves recession-wary markets
- A drop in the number of Americans applying for unemployment benefits last week relieved markets that had been in a near panic about prospects for a recession and how aggressive the Federal Reserve would have to be in easing policy.
The government's monthly nonfarm payrolls report on Friday showed job gains slowed markedly in July and the unemployment rate rose to 4.3%, raising fears in markets that the labor market may be deteriorating at a pace that would call for strong action from the Fed.E-minis extended gains and were up 0.76%BONDS: The yield on benchmark U.S. 10-year notes rose to 3.99%, the two-year note yield jumped to 4.
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