Global stocks jump, yields drop as Fed cut hopes bloom

Global stocks jump, yields drop as Fed cut hopes bloom

Malay Mail Online - Money·2024-05-04 15:02

NEW YORK, May 4 — A gauge of global stocks rallied while Treasury yields fell yesterday after a US payrolls report was softer than anticipated, easing concerns the Federal Reserve would keep interest rates higher for longer.

Nonfarm payrolls rose by 175,000 last month, the lowest since October 2023, and short of the 243,000 estimate of economists polled by Reuters.

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