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Treasury yields climb after strong jobs growth keeps Fed on track

“Bond traders sold Treasurys after the jobs data highlighted the conundrum of strong job gains but tepid wage growth” writes Sunny Oh for Treasury yields climbed on Friday after February’s employment report showed strong jobs gains but a muted wages number, which nonetheless keeps the central bank on track for three to four rate hikes this year.Wages still not rising rapidly The previous jobs report for January came in at the hottest-pace of wage growth in 12 months, with hourly pay rising at a yearly pace of 2.9%, marking the fastest increase since 2009.Traders in the fed fund futures market are betting an 86% chance of a rate hike in the Fed’s next meeting on March 21, according to CME Group data.

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