The job market is weakening badly and bond yields are still high, a bad mix for workers, borrowers, and anyone betting on a calm stock market.

• New job numbers came in far below what economists expected, and July's figures were revised from a gain to a loss.
• Stocks jumped anyway on hopes that weak jobs mean lower interest rates, which does not match what bonds are actually doing.
• Long-term government bond yields are staying high because bond markets worldwide are under strain and the US could not push its own borrowing costs down.
• Inflation is the other reason rates stay high, with energy costs climbing right before winter heating season.
• Oil fell on talk of releasing emergency diesel and crude supplies, even as a tanker burned after an attack and a third US carrier headed to the Middle East.

Outlook: Expect more pressure on household budgets and weaker holiday-quarter earnings, with Middle East tensions keeping energy prices unstable.