NEW YORK:The dollar and the yield on the benchmark Treasury note edged higher in light trading on Friday after data showing a surge in the hiring of Americans in March pointed to a U.S. economic recovery that is poised to be the strongest in decades.
"The economy's bouncing back, but it's not producing the things that are going to change the direction of monetary policy," Ricchiuto said."We're going to test the 1.77per cent level , but I'm not sure it's going to break on this number."The 10-year U.S. Treasury note rose 3.5 basis points to yield 1.7143per cent, but the rise was still below a 14-month high of 1.776 hit on Tuesday.
"The outlook looks very good," Price said. But"in my mind the biggest constraint could be the ability of the supply side of the economy to fulfill consumer wishes."Asian markets overnight rose as optimism over a global economic recovery lifted equity markets in Japan, China and South Korea. China stocks posted a second weekly gain as recent data pointed to a solid recovery in the world's second-largest economy. Both the CSI300 index and the Shanghai Composite Index closed at an almost four-week highs.
Stocks rose on Wall Street on Thursday, with the S&P 500 index hitting a fresh peak as it scaled the 4,000 mark, and the benchmark Deutsche Boerse DAX index in Germany setting a new high. Equities rose on reports of the strongest manufacturing data in decades around the world.
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