An early July 4 celebration came for US equities as the unemployment rate dropped to 6.1 per cent, against expectations, and the Dow Jones index topped 17,000 for the first time. Michael Mackenzie, the FT's US markets editor, says that, while the economy is gaining altitude, low wage gains are one reason why the bond market is still below the Fed's forecast.
Produced and filmed by Gregory Bobillot
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