US nonfarm payrolls unexpectedly fell by 23,000 last month. Stock index futures
extended gains and bond yields dropped sharply; the 10-year US Treasury yield
fell from about 4.67% pre-report to around 4.60%. A softer labor market could
reduce upward pressure on inf. Despite war risks and concerns of an AI
investment bubble, robust corporate profits have eased Wall Street’s valuation
worries.
