Stocks & Dollar Spike On Mixed Payrolls Data, Bonds Undecided, Gold Down
Low unemployment (yay), slowing wage growth (boo), retail job losses continue (ugh)… sparked algos buying in stocks and the dollar and despite some vol in bonds, they are unchanged for now…
Futures ramped to overnight highs (beware the stop run and fade)
And the dollar spiked (and initial kneejerking lower)…
Source: Bloomberg
And while bond yields kneejerked higher, they quickly retraced to unch…
Source: Bloomberg
And goldĀ erased yesterday’s PMI gains…
Finally, we note the market shifting hawkishly, now pricing in 1.4 rate cuts by year-end…
Source: Bloomberg
Tyler Durden
Fri, 10/04/2019 – 08:43
via ZeroHedge News https://ift.tt/2MqfR9x Tyler Durden