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…
via ZeroHedge News http://bit.ly/2Ij40YL Tyler Durden