for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Euro zone bond yields jump, European shares fall after strong U.S. data

LONDON, Aug 5 (Reuters) - Euro zone bond yields jumped and European shares fell on Friday after stronger-than-expected U.S. jobs data fuelled expectations for a 75 basis point rate hike at the Federal Reserve’s September meeting.

Germany’s 10-year bond yield was last up 7 bps on the day at 0.88%, having traded at around 0.83% just before the data. They tracked U.S. Treasury yields, which were last up around 10 bps at 2.79%.

The pan-European STOXX 600 index of shares fell to a two-day low after the data, last down 0.5%.

U.S. nonfarm payrolls increased by 528,000 jobs last month, the Labor Department said in its employment report on Friday. Data for June was revised higher to show 398,000 jobs created instead of the previously reported 372,000.

Reporting by the London Markets Team, Writing by Dhara Ranasinghe; Editing by Stefano Rebaudo

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up