Bonds fell and the dollar rose as stronger-than-forecast employment growth soothed concern the US economy is poised to slow, stanching speculation the Federal Reserve will need to cut interest rates any time soon. Stocks hit fresh all-time highs. 

Treasury two-year yields surged 10 basis points to 3.88%. Swap traders saw almost no chance of a July Fed cut, compared with a roughly 25% probability seen before the data. The chance of a move in September ebbed to about 70%. The S&P 500 climbed 0.8%. After the close of trading in a shortened pre-holiday session, the House passed President Donald Trump’s tax bill. 

On a special pre-holiday edition of The Close, hosts Romaine Bostick and Matt Miller speak with: 

- Bloomberg Opinion columnist Jonathan Levin 

- Liz Ann Sonders, Charles Schwab managing director and chief investment strategist

- Patrick de Haan, head of petroleum analysis at GasBuddy 

- Michael Balboni, former New York State Director of Homeland Security 

- Scott Bessent, US Treasury Secretary

Bonds fell and the dollar rose as stronger-than-forecast employment growth soothed concern the US economy is poised to slow, stanching speculation the Federal Reserve will need to cut interest rates any time soon. Stocks hit fresh all-time highs.&nbsp;
Treasury two-year yields surged 10 basis points to 3.88%. Swap traders saw almost no chance of a July Fed cut, compared with a roughly 25% probability seen before the data. The chance of a move in September ebbed to about 70%. The S&amp;P 500 climbed 0.8%. After the close of trading in a shortened pre-holiday session, the House passed President Donald Trump&rsquo;s tax bill.&nbsp;
On a special pre-holiday edition of The Close, hosts Romaine Bostick and Matt Miller speak with:&nbsp;
- Bloomberg Opinion columnist Jonathan Levin&nbsp;
- Liz Ann Sonders, Charles Schwab managing director and chief investment strategist
- Patrick de Haan, head of petroleum analysis at GasBuddy&nbsp;
- Michael Balboni, former New York State Director of Homeland Security&nbsp;
- Scott Bessent, US Treasury Secretary

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Pre-Fourth of July Special: Stock Jump on Jobs Surprise, Trump's Tax Bill Passes

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