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(Bloomberg) -- The US on Friday announced the most sweeping and aggressive sanctions yet on Russia’s oil trade, just ten days before Joe Biden leaves the White House to be replaced by Donald Trump as president. Most Read from BloombergA Blueprint for Better Bike LanesWhat Robotaxis Brought San FranciscoAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC Condo Owners May Bear Costs of Landmark Green Building LawNew York, San Francisco Ranked Worst for US Traffic in City CentersIf they

(Bloomberg) -- A selloff in the $28 trillion Treasury market deepened after a blowout US employment report reinforced bets among traders and Wall Street economists that the Federal Reserve will hold off on further interest-rate cuts.Most Read from BloombergA Blueprint for Better Bike LanesWhat Robotaxis Brought San FranciscoAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC Condo Owners May Bear Costs of Landmark Green Building LawNew York, San Francisco Ranked Worst for US Traffic

(Bloomberg) -- Oil traders who bought options in a bet that crude oil would snap out of its doldrums are set to reap the rewards as prices surge on fresh sanctions against Russia.Most Read from BloombergA Blueprint for Better Bike LanesWhat Robotaxis Brought San FranciscoAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC Condo Owners May Bear Costs of Landmark Green Building LawNew York, San Francisco Ranked Worst for US Traffic in City CentersA gauge of implied volatility jumped by

U.S. consumers expect inflation to increase over the next 12 months and beyond, likely reflecting concerns that broad tariffs on imports pledged by President-elect Donald Trump's incoming administration could raise prices for households. The University of Michigan's survey showed consumers' one-year inflation expectations jumped to 3.3% in January, the highest level since May, from 2.8% in December. "For both the short and long run, inflation expectations rose across multiple demographic groups, with particularly strong increases among lower-income consumers and Independents," said Surveys of Consumers Director Joanne Hsu.

WASHINGTON (Reuters) -U.S. job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% as the labor market ended the year on a solid footing, reinforcing views that the Federal Reserve would keep interest rates unchanged this month. The Labor Department's closely watched employment report on Friday also showed a decline last month in the number of people who have permanently lost their jobs and a shortening in the median duration of unemployment. A rise in these measures had raised concerns about labor market deterioration.

Top Wall-Street brokerages revised their Fed rate cut forecasts, after a blow-out U.S. jobs report on Friday, with BofA Global Research forecasting a potential rate hike from the central bank. Data on Friday showed, Nonfarm payrolls increased by 256,000 jobs last month, the most since March, and data for October and November was revised to show 8,000 fewer jobs added than previously reported. Market participants see a 76.31% probability that the Fed will cut rates by 25 basis points in June, according to CME FedWatch tool.

(Bloomberg) -- Economists at Bank of America Corp., Citigroup Inc. and Goldman Sachs Group Inc. pared back their forecasts for additional Federal Reserve interest-rate cuts in response to stronger-than-expected December US employment data released Friday.Most Read from BloombergWhat Robotaxis Brought San FranciscoA Blueprint for Better Bike LanesNYC Condo Owners May Bear Costs of Landmark Green Building LawAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC’s Subway Violence Deters D