10Y Yields Hit YTD Lows After Miserable Jobs Number
Oh boy.
The jobs report missed, and missed "bigly."
This was just about the last thing the reflation narrative needed following last night's decision by the Trump administration to launch airstrikes against targets in Syria.
Predictably, yields and the dollar are plunging with the 10Y yield hitting YTD lows.
Via Bloomberg
Treasuries surged after a report showed U.S. employers added far fewer jobs last month than forecast, hurting the case for multiple Federal Reserve rate hikes this year.
https://twitter.com/heisenbergrpt/status/850331793987338240
With unemployment below 5%, a low employment number is a bigly deal. Call me when it hits 7-8%.
Ooops….isn’t a bigly deal.