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Fed easing unlikely

after jobs data

NEW YORK: Financial weekly Barron's said the stronger than expected U.S. jobs data released Friday signals that the Federal Reserve won't cut rates further, which could hurt both stocks and bonds.

The bond market was rocked by the strong March payrolls, which jumped 140,000 in March, more than double Wall Street's expectations. The long bond tumbled 1-27/32, boosting its yield to 6.83 percent in an abreviated holiday session.

"But absent any prospect of Fed easing, and the growing probability of tightening later this year, the bear market in bonds is likely to continue, with predictably negative consequences for stocks," the paper said.-Reuter