The Federal Reserve (Fed) continues to stand by its accommodative policies by stressing that the labor market remains well below pre-pandemic levels with some 10 million people remaining jobless. The February jobs report will be released on Friday and it will be widely watched as it remains the weakest part of the U.S. economy and one of the primary drivers behind the dovish Fed. Will a stronger than expected report push Treasury yields higher, while placing additional pressure on stocks due to concerns that inflation will be here sooner than expected and force the Fed’s hand? Or will we continue to see a labor market that is well below its natural levels?
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