News Summary

• The surprise drop in July u.s. payrolls didn't shift interest rate markets as much as the initial gasp might have suggested.
• Markets are still pricing in a roughly 50-50 ‌chance of a Federal Reserve rate rise next month.
• There were several reasons for the caution in rates markets after the soft jobs numbers, including an equally surprising drop in the unemployment rate, and fresh political ‌pressure on the Fed.
• Meantime, stock markets are still basking in the glow of a second-quarter earnings season that's registering an annual aggregate profit gain of 51% for S&P 500 companies.