Well, that was a pleasant surprise. The US Bureau of Labor Statistics (BLS) reported that nonfarm payrolls rose by 172,000 in May, more than double the 80,000 economists had expected, according to a Wall Street Journal survey.

What’s driving bond yields higher? Since the recent low, the 10-year Treasury yield has climbed nearly three-quarters of a percentage point. The 10-year is a key benchmark because many borrowing rates, including mortgage rates, closely track its movements.

What’s driving bond yields higher? Since the recent low, the 10-year Treasury yield has climbed nearly three-quarters of a percentage point. The 10-year is a key benchmark because many borrowing rates, including mortgage rates, closely track its movements.

On Thursday, the US Bureau of Economic Analysis reported that Gross Domestic Product (GDP), the largest measure of goods and services, expanded at an annual rate of 2.0% in the first quarter.

On Thursday, the US Bureau of Economic Analysis reported that Gross Domestic Product (GDP), the largest measure of goods and services, expanded at an annual rate of 2.0% in the first quarter.

The Nasdaq hit fresh record highs on Wednesday, Thursday, and Friday, capping off a strong week for tech stocks. On Wednesday, the S&P 500 also made history, closing above 7,000 for the first time. It kept building on those gains through the end of the week.

The Nasdaq hit fresh record highs on Wednesday, Thursday, and Friday, capping off a strong week for tech stocks. On Wednesday, the S&P 500 also made history, closing above 7,000 for the first time. It kept building on those gains through the end of the week.

Led by a 10.9% rise in energy, including a 21% rise in gasoline, the US Bureau of Labor Statistics reported that the Consumer Price Index (CPI) rose 0.9% in March, the highest in almost four years. On an annual basis, prices rose 3.3%.

Oil has captured much of the attention amid the conflict in the Middle East. While a limited number of tankers are transiting the region, the Strait of Hormuz is largely blocked, disrupting nearly one-fifth of the world’s oil supply.

How long the war might last is not clear, but its effects are being felt in global energy markets. Oil moves easily across borders, which means supply disruptions quickly lead to higher gasoline prices.

Against the backdrop of the war, the Federal Reserve met last week and decided to hold its key rate—the fed funds rate—unchanged at 3.50–3.75%. The decision was completely expected.