U.S.
Treasury yields fell on Friday after data showed that employers unexpectedly shed 23,000 jobs in July, prompting traders to cut odds of a Federal Reserve interest-rate hike in September.They pared their earlier drop, however, ahead of long-dated supply and consumer price inflation for July due next week.Economists polled by Reuters had expected employers to have added 80,000 jobs last month.
The unemployment rate eased to 4.1% as labor participation fell, defying expectations for the rate to remain steady at 4.2%.
Average hourly earnings rose 3.2% on the year, below consensus for a 3.5% increase.
If you look at all the data components, wages, (nonfarm payrolls), this is a very weak labor market that's all of a sudden happened, said Tom di Galoma, managing director of global rates trading at Mischler Financial Group.
