US job growth slowed in June, sending Treasury yields and the dollar lower. The BLS reported nonfarm payrolls +57k in June versus a Wall Street Journal consensus of 115k; May and April payrolls were revised down to 129k (from 172k) and 148k (from 179k). The unemployment rate edged down to 4.2% from 4.3%. Initial jobless claims fell slightly to 215k (from an upwardly revised 216k), below the 220k expected. The dollar index dropped 0.7%. The 10-year Treasury yield fell to 4.461% from 4.505%; the 2

US job growth slowed in June, sending Treasury yields and the dollar lower. The BLS reported nonfarm payrolls +57k in June versus a Wall Street Journal consensus of 115k; May and April payrolls were revised down to 129k (from 172k) and 148k (from 179k). The unemployment rate edged down to 4.2% from 4.3%. Initial jobless claims fell slightly to 215k (from an upwardly revised 216k), below the 220k expected. The dollar index dropped 0.7%. The 10-year Treasury yield fell to 4.461% from 4.505%; the 2-year yield fell to 4.108% from 4.191%. The print runs counter to expectations that Fed tightening would continue to support the dollar.