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After Mixed Jobs Data, ‘Now Back to SVB’ for Wall Street Traders

Mixed jobs data eases investor concerns of a 50 basis point hike in Fed rate, SVB Financial Group sank as much as 69% in premarket trading Friday, Fed focused on labor market tightness

  • Treasuries, which were surging even before February report, pushed higher.
  • Swap rates showed that investors now expect a Fed rate cut by the end of the year.
  • SVB Financial Group sank as much as 69% in premarket trading Friday.
  • Venture capitalists urged portfolio businesses to limit their exposure to the firm.
  • Fed has been clear that labor market tightness is the issue and today’s report pushed back against that a bit.
After Mixed Jobs Data, ‘Now Back to SVB’ for Wall Street Traders
On a morning when Wall Street was already anxious about the health of US regional banks, a mixed jobs report eased investor concerns that the Federal Reserve would have to do a 50 basis point hike at its meeting later this month.

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