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U.S. Treasury yields surged on Thursday, pushing the 2-year rate above 5% to its highest level in 17 years, after data showed the private sector added more than twice as many jobs as expected for last month.
What’s happening
What’s driving markets
In data released on Thursday, ADP’s employment report showed that the U.S. private sector added 497,000 jobs in June for the biggest increase since July 2022. The median forecast of economists polled by The Wall Street Journal was for a gain of 220,000 jobs. The…
