Treasury Yields Start Month With Jobs-Driven Decline
0843 ET – U.S. labor data supports calls for monetary easing and Treasury yields fall, along with the dollar. Employers add just 73,000 jobs in July. Economists surveyed by WSJ expected 100,000. Unemployment ticks higher to 4.2% from 4.1%. Previous figures are revised sharply down: May's to 19,000 from 144,000 and June's to 14,000 from 147,000. Before the jobs report, Fed's dissenting governors Waller and Bowman said labor markets showed signs of weakening. Treasury yields had been rising since yesterday's tariffs blitz and tumbled on the jobs data. The 10-year is at 4.295% and the two-year at 3.801%. The WSJ Dollar Index falls 0.7%. (paulo.trevisani@wsj.com; @ptrevisani)
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