* U.S. economy creates 224,000 jobs in June * Traders price out 1/2-point cut at July Fed meeting * Markets factor in 25 basis-point cut this month * U.S. 10-year yields hit 1-week high, 2-year at 2-week peak (Adds comment; updates prices) By Gertrude Chavez-Dreyfuss NEW YORK, July 5 (Reuters) – U.S. Treasury yields rose across the board on Friday, after data showed the world’s largest economy created far more jobs than expected in June, suggesting that the Federal Reserve will not aggressively cut interest rates later this month. Analysts said the strong jobs report should not stop the Fed from reducing interest rates at its July policy meeting, but it did take a 50-basis-point cut off the table. U.S. benchmark 10-year yields rose

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