A dismal June jobs report turned into a green light for the market’s most rate-sensitive corners on Thursday, as a sharp slowdown in hiring gutted expectations for a Federal Reserve rate hike and sent Treasury yields and the dollar tumbling.
The U.S. economy added just 57,000 jobs in June, roughly half the 110,000 economists expected, and the Bureau of Labor Statistics cut a combined 74,000 from the prior two months.
