We prove results about the intersection of the p-rank strata and the boundary of the moduli space of hyperelliptic curves in characteristic p ≥ 3. This yields a strong technique that allows us to analyze the stratum H f g of hyperelliptic curves of genus g and p-rank f . Using this, we prove that the endomorphism ring of the Jacobian of a generic hyperelliptic curve of genus g and p-rank f is isomorphic to Z if g ≥ 4. Furthermore, we prove that the Z/ℓ-monodromy of every irreducible component of H f g is the symplectic group Sp 2g (Z/ℓ) if g ≥ 4 or f ≥ 1, and ℓ = p is an odd prime (with mild hypotheses on ℓ when f = 0). These results yield numerous applications about the generic behavior of hyperelliptic curves of given genus and p-rank over finite fields, including applications about Newton polygons, absolutely simple Jacobians, class groups and zeta functions.1