(Bloomberg) -- Treasuries tumbled after a stronger-than-expected jobs report for June prompted traders to exit bets on an interest-rate cut by the Federal Reserve this month.
（彭博社） - 国债在6月份的一份预期的工作报告中跌倒了，这促使交易者退出了本月美联储削减的利率的赌注。
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Shorter-term Treasuries, which are the most sensitive to expectations for Fed policy, led the slump. Two-year yields rose about 10 basis points, while 10-year rates jumped 7 basis points to 4.35%. The dollar advanced versus its major counterparts before trimming the gains.
对美联储政策的期望最敏感的较短期限造成了低迷。两年的收益率上升了约10个基点，而10年利率跃升了7个基点，达到4.35％。在修剪收益之前，美元与其主要同行相比。
“The Fed will take the summer off,” said Gregory Faranello, head of US rates trading and strategy for AmeriVet Securities. “The needle for the Fed to move was employment,” and this report gives Fed Chair Jerome Powell room for a wait-and-see approach to easing policy.
美国利率交易和Amerivet证券策略负责人格雷戈里·法拉内洛（Gregory Faranello）说：“美联储将休假。”“美联储搬家的针头是就业，”该报告为美联储主席杰罗姆·鲍威尔（Jerome Powell）提供了耐心的宽松政策方法。
Interest-rate swaps showed traders saw almost no chance of a Fed rate reduction at the July 29-30 meeting, compared with the roughly 25% probability seen before the report. The chance of a move in September ebbed to about 70%.
利率互换表明，在7月29日至30日的会议上，交易者几乎没有机会降低美联储利率，而报告前约有25％的概率。9月份搬家的机会升至约70％。
The jobs report said payrolls increased 147,000 after slight upward revisions to the prior two months, and compared with a median forecast of 106,000 in a Bloomberg survey of economists. The unemployment rate unexpectedly fell to 4.1%, from 4.2%.
工作报告称，薪资在对前两个月的稍微上升后增加了147,000，并且在彭博对经济学家的调查中的中位数预测中位数为106,000。失业率意外降至4.1％，从4.2％降至4.1％。
But private payrolls rose just 74,000 in June, the least since October and largely due to health care. The figures are consistent with a moderation in hiring as employers grapple with President Donald Trump’s erratic trade policy and await congressional approval of his signature tax legislation.
但是私人薪资在6月只有74,000次，这是十月以来最少的，主要是由于医疗保健。这些数字与雇用雇主应对唐纳德·特朗普总统不稳定的贸易政策的招聘和招聘的节制是一致的，并等待国会对他的签名税法立法的批准。
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Jeffrey Rosenberg, portfolio manager at BlackRock Inc., said the slowdown in private payrolls shows investors may have overreacted by selling bonds after the data release.
BlackRock Inc.投资组合经理Jeffrey Rosenberg表示，私人工资的放缓表明，投资者在数据发布后出售债券可能已经过度反应。
“This is a great example of where the first reaction is not necessarily the last reaction,” Rosenberg said on Bloomberg Television. “Private payrolls disappointed to the downside. This is the slowing in the job market that we’re expecting.”
罗森伯格在彭博电视台上说：“这是第一个反应不一定是最后一个反应的一个很好的例子。”“私人薪资对不利的一面感到失望。这是我们期望的就业市场放缓。”
The Bloomberg Dollar Spot Index rose as much as 0.5% before giving up most of the gains ahead of the Independence Day holiday on Friday, when US markets will be closed.
彭博（Bloomberg Dollar）的现货指数上涨了0.5％，然后在周五的独立日假期之前放弃了大部分收益，届时美国市场将关闭。
“Traders are clearly searching for anything and everything that could be seen as dollar-positive,” said Helen Given, a foreign-exchange trader at Monex Inc. But the labor report, with its weak details, “isn’t enough to give markets real longer-term faith that the US jobs market is truly healthy.”
“交易者显然正在寻找任何可以看作是美元阳性的事物，” Monex Inc.的外交交易商Helen Fives说，但劳动报告却具有薄弱的细节，“不足以使市场真正相信美国就业市场是真正健康的。”
