U.S. 216K Jobs Adds in December Tops Estimates for 170K

Habitual markets are off to a shaky start in 2024, with the Nasdaq, for instance, currently on a five-day losing streak, its first such concur of negative days since late 2022. The 10-year Treasury yield – which plunged more than 120 constituent points in the final quarter of 2023 on rate cut hopes – is up 25 basis points over the past few sessions and again ace 4%. Putting markets on edge is the idea that investors may have gotten ahead of themselves in predicting a sizable discipline of rate cuts to come in 2024.