Wells Fargo

Strong Buy - Wells Fargo -Breaks Out As Jobs Report Lifts Treasury Yields

• The job market is roaring back creating 943,000 more jobs in July.
  The bullish report sent the 10-year Treasury yield up 6 basis points to 1.28% on increasing confidence in the economic recovery.
  But
• Wall Street is also expecting the Federal Reserve to start tapering its
  bond purchases.
  

*Jobs will need to keep improving for consecutive months in a row first, Pre-Covid Un-Employment levels currently 5.4% was 3.5%.



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