Morning Bid: Fed’s Cook grilled again

Financial markets processed mixed employment data released on Friday, with U.S. payrolls declining by 23,000 during July while the economy added 103,000 fewer jobs in May and June than previously estimated. Job growth averaged 20,000 per month over the past three months. Despite the soft labor market print, interest rate markets did not shift dramatically, with traders pricing in roughly a 50-50 probability of a Federal Reserve rate increase next month. Treasury yields declined only marginally