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Thursday’s bond-market selloff will face stiff test on Friday in form of jobs report

September 6, 2019

Don’t put all your chips on Thursday’s big bond-market selloff continuing into the weekend.

After rallying for months, government bond prices dipped sharply on Thursday, catching bullish traders offsides by a combination of robust economic data and a roaring stock-market rally. But analysts say the bearish tone in Treasurys may struggle to persist through Friday when August’s jobs report is due to be released.

Analysts say the jobs report could dampen the swell of optimism sparked earlier in the session by positive economic data from the services industry and private-sector employment, while any disappointments could boost the appeal, and price, of haven assets.

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