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%!!

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Author: Tyler Durden

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