The big event on Friday was the US jobs report for April which economists had anticipated would see the addition of 1 million new jobs. As it turned out their expectations were massively off the mark with only 278,000 net non-farm payrolls being added. Treasury yields fell and stock index futures rose strongly in the anticipation that the Fed would be less inclined to raise rates and cut stimulus after the report.
Like US futures, UK and European stocks have held Friday’s gains this morning.
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