Economic data paints picture of strong economic growth

Economic data paints picture of strong economic growth

Financial markets digested a heavy dose of financial data and developments this week that pushed bond yields higher and have the Fed poised for a rate hike next month.

The headline of the week was the employment report released Friday morning. Total nonfarm payrolls increased by 157,000 jobs in July, shy of expectations, but enough to send the unemployment rate to 3.9 percent, which is near its lowest level in almost 50 years.

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