Market Highlights

Treasuries fell and the dollar rose as stronger-than-forecast employment growth soothed concern the US economy is poised to slow, stanching speculation the Federal Reserve will need to cut interest rates any time soon. Stocks hit fresh all-time highs. Short-dated bonds underperformed, with two-year yields up eight basis points to 3.87%. Money markets showed traders saw almost zero chance for a Fed reduction in July, compared with the roughly 25% probability seen before the report. The chance of a move in September was reduced to about 75%. The S&P 500 rose for the fifth time in six days.