- Markets declined as investors awaited new US jobs data to determine if they would place fresh wagers on future Federal Reserve interest rate increases.
- European stock prices recovered some of their early losses, but they were still headed for their worst week since the middle of March. Following Thursday's losses in the S&P 500 and Nasdaq 100 benchmarks caused by stronger-than-anticipated private hiring statistics, US equity futures were steady.
- While ADP Research Institute statistics released on Thursday indicated that US companies added the most jobs in more than a year in June, traders increased their bets on future rate hikes. After the ADP results caused a surge in Treasury yields, the NFP and unemployment reports on Friday will be crucial for any further changes in rate-hike forecasts.
- Treasury yields ticked higher again in Friday trading, with the policy sensitive 2-Yr yield near 5%, while the 10-Yr hovered close to the highest since March.
