The U.S. unemployment rate at 7.4% in July 2013

For the month of July 2013 the U.S. payrolls went up by 162,000 workers and the unemployment rate fell to 7.4% from 7.6% in June 2013. Last month payrolls went up by 195,000 workers. 

The good news regarding jobs data in U.S. continued in July thereby increasing the chance of fed tapering from September onward.

The rising bond yields will push up dollar and hammer both developed and emerging market equities.

U.S Jobs Data June 2013 - Highlights

U.S. jobs data for the month of June 2013 came in better than expectation and strangely pushed both bond yields and stocks higher on 5th July, a rare event when both bonds and stocks move in same direction. Stocks are inversely correlated with bonds and usually goes up when bond yield falls and vice versa.  

CBOE 10-year yield on T Note rose to the highest in almost two years at 2.72% while S&P 500 closed 1 percent higher on Friday.