Morning Bid: Hot US jobs data stoke yield fire, scold stocks
If the reaction in U.S. stocks, bonds and the dollar to Friday's sizzling U.S. employment report is any guide, Asian markets are in for a bumpy ride on Monday, rocked by another whoosh higher in bond yields and inflation fears. The U.S. economy created over a quarter of a million net new jobs and the unemployment rate fell last month, reflecting a robust labor market. The S&P 500 fell to its lowest since November 5, the day of the U.S. presidential election, and it looks like soaring bond yields could crush investors' appetite for risky assets like stocks.
