Strong October Jobs Data Lifts Odds of a December Fed Rate Hike to About 78% and Pushes the 10-Year Yield Toward 4.87%
Since the October jobs report landed this morning, Nov. 6, the argument has shifted to the Fed. Markets were pricing about a 78% chance of a December quarter-point hike, up from about 67% on Thursday, and Treasury yields rose, threatening a three-week slide in mortgage rates. The AI-driven stock sell-off had cooled hike bets earlier in the week, and one strong payroll number put them back in focus.