The data is probably less worrying on the inflation and interest rates fronts than it looks.
Share on linkedin much stronger than was thoughtBut the data is probably less worrying on the inflation and interest rates fronts than it looks at first glance., roughly double what analysts had forecast. The government also revised up July and August figures by a combined 119,000 jobs.
In traders' estimation, that increased the odds the Fed will keep rates higher for longer. Bond prices fell sharply, pushing long-term rates higher, with the yield on the 10-year Treasury note reaching a new 16-year high of 4.88% .The payrolls number is always what traders look at first in the monthly jobs report. But there were plenty of details to support the idea that inflation is on the way down and the labor market is less overheated than it was a year ago.
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