The stronger-than-expected report boosted the prospect of aggressive rate hikes by the Federal Reserve and showed that the U.S. is likely not in a recession. Analyststhe Fed to consider a 75-basis point rate hike at its coming meetings to bring soaring inflation down to its goal.
Market participants are likely to closely monitor inflation data due later in the week for further clues on the U.S. central bank's rate path. The U.S. Treasury on Monday will auction $54 billion in 13-week bills and $42 billion in 26-week bills.
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