NEW YORK: The US dollar fell to a six-week low and benchmark 10-year US Treasury yields fell to five-week lows on Friday following data that showed US job growth slowed more than expected in October.

Additionally, following data showing that US job growth slowed in part due to United Auto Workers strikes against Detroit’s “Big Three” automakers, US two-year yields were at their lowest point since early September.

Additionally, the data indicated that the yearly wage increase was the lowest in almost two and a half years, suggesting a loosening of labor market conditions.

The slowdown “will likely keep the Fed on the sidelines going forward,” according to Commonwealth Financial Network’s chief investment officer, Brad McMillan, of Waltham, Massachusetts.

Leave a Reply

Your email address will not be published. Required fields are marked *