US stocks have registered their best week in a year, with a big slowdown in hirings reported on Friday fuelling investor expectations that interest rates have peaked.
American employers created 150,000 new jobs last month — fewer than forecast and barely half of September’s revised figure of 297,000. Economists surveyed by Bloomberg had expected a total of 180,000 new posts for October.
The numbers provided further power to a rally in stocks as well as US Treasuries, as investors bet that the slowdown in the labour market made it more likely that the Federal Reserve will not raise rates further in the coming months.
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