Jobs Report Sends Yields Soaring, Stocks Tumbling

The US jobs report showed stronger-than-expected job growth, with nonfarm payrolls rising by 162,000 last month. Economists had forecast an increase of 56,000 after a previously reported drop of 23,000 in July.

As a result, Treasury yields and the dollar rose, while stocks fell on Friday. The yield on two-year Treasuries led the rise, increasing by four basis points to 4.37%. It briefly peaked at 4.4246%, its highest since January 2025.

Bret Kenwell, a US investment analyst at eToro in New York, said investors will pay close attention to next week's consumer prices report ahead of the Fed's mid-September decision.