U.S. job growth rose much more than expected in July, data showed on Friday, lifting the employment level above its pre-pandemic mark and calming fears that the economy was in recession. Investors read the data as a indication the Fed could raise interest rates more aggressively to combat inflation. Euro zone bond yields fell back down after gaining following the jobs data on Friday. Italian bonds appeared to brush off a decision by Moody's to lower Italy's ratings outlook.
