Dollar, Stocks, Bond Yields Tumble After Dismal Jobs Print
The market's kneejerk reaction to the collapse in employment growth was weakness in stocks and the dollar and a bid for bonds...
Bad news is not good news today for stocks...
Treasury yields are sliding...10Y -5bps...
2Y Yields plunged below 1.80% - the lowest since Dec 2017...
And the dollar is dumping further (back below the 1200 level for Bloomberg's index)...
So yesterday markets cheered Powell's hints at rate-cuts if the economy weakened, and today we get confirmation that the economy is weakening and the market is upset...
The odds of a rate-cut at the June FOMC is now 33%!!
No comments:
Post a Comment