Treasuries fell, pushing yields on 10-year notes up the most since September, after stronger-than- forecast job gains suggested the economy is poised to accelerate after being hampered by severe winter weather.
Jeanina Jenkins, a 20-year-old high- school graduate from St. Louis, is stuck in a $7.82-an-hour part-time job at McDonald’s Corp. that she calls a “last resort” because nobody would offer her anything better.
The dollar rose to a six-week high against the yen as U.S. employment gains exceeded forecasts, boosting speculation that the Federal Reserve will continue to pare monetary stimulus that’s seen as debasing the currency.
The Canadian dollar declined the most in more than two weeks after employers unexpectedly eliminated jobs in February, reviving speculation the central bank may need to cut interest rates to bolster economic growth.
Federal Reserve Bank of New York President William C. Dudley said he sees a “reasonably favorable” outlook for the U.S. economy, even as elevated joblessness and too-low inflation warrant a high level of stimulus for a “considerable time.”