- February's 313K job gain easily topped estimates for 200K. Revisions to December and January added another 54K jobs. That 313K figure is the most monthly job adds since the middle of 2016.
- The unemployment rate held steady at 4.1% vs. expectations for a decline to 4%, but that was thanks to a big jump in the participation rate (to 63% from 62.7%).
- The average workweek grew 0.1 hour to 34.5 hours.
- A modest disappointment, average hourly earnings gained just $0.04 to $26.75, bringing the Y/Y advance to 2.6%. Expectations had been for about an $0.08 monthly rise.
- U.S. stock index index futures have turned higher following the news, with the S&P 500 (NYSEARCA:SPY) up 0.5%, the DJIA (NYSEARCA:DIA) up 0.6%, and Nasdaq 100 (NASDAQ:QQQ) up 0.7%.
- The 10-year Treasury yield has turned up by 3 basis points to 2.89%. TLT -0.5%, TBT +1%
- Now read: A Video Sequel: A 56-Year History Of U.S. Treasury Yield Curve Movements In 12 Minutes
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