Stocks Rally as Weaker Jobs Data Signals Fed Rate Hikes Are Slowing Economy
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Stocks and bonds rallied on Friday after weaker-than-expected job growth suggested the Fed's rate hikes are slowing the economy.
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The 10-year Treasury yield saw its biggest weekly drop since March as investors welcomed plans to reduce long-term borrowing.
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Fed Chair Powell's comments and October's job gains indicated the central bank's efforts to fight inflation are working.
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While some see the market moves as positive signs, others warn unemployment rising could lead to further increases.
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Investors pulled back expectations for a December rate hike but rising debt issuance could push yields back up.