Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
It was blowout employment data for the economy last month, with the Bureau of Labor Statistics Friday morning reporting 336,000 jobs added in September versus economist forecasts for just 170,00. August’s originally reported 187,000 jobs gained was revised higher to 227,000.
While not necessarily in major rally mode as stock and bond prices have tumbled, bitcoin has managed to hold its own, rising over the same time frame from about $26,000 to $27,700 ahead of this morning’s news. Shortly following this morning's report, stock and bond prices were headed lower again, with Nasdaq 100 futures down more than 1% and the 10-year Treasury yield higher by eight basis points to just shy of 4.80%. Thenow shows a 31% chance of a U.S. Federal Reserve rate hike at its next policy meeting in November. Ahead of the jobs number, it was just 24%.
In other report details, closely followed average hourly earnings were softer than expected, rising 0.2% in September versus forecasts for 0.3% and against August’s 0.2%. On a year-over-year basis, average hourly earnings were higher by 4.2% versus 4.3% expected and 4.3% last month. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
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