Jobs, Records, & Russians: The Week In Charts

The jobs number was decent…

Payrolls

… and so was the AHE print…

AHE

Trump thinks that’s some “excellent” shit right there:

Jobs

Some folks without college degrees are “participating”:

Participation

More records were hit on the Dow this week and Trump was happy about that too. Here’s US benchmarks on the week:

Stocks

Note that small caps have meaningfully diverged from the broad market:

SmallCaps1

Transports stabilized a bit this week, and it’s a good damn thing, because, well, because this:

DowVsDowTrans

The VIX spiked on the Mueller headline, but ultimately ended up getting pushed back to a 9-handle after the jobs number:

VIX

NFP pushed yields up on the 10Y, but 2.26 and change isn’t exactly what I would call “reflationary”:

Yields

European shares were up across the board on the week, with the FTSE outperforming on the back of a dovish BoE:

Europe

Crude had its usual ups and downs, trading on anything and everything there was to trade on, but ultimately, $50 seems to be a tough nut to crack for WTI:

WTI

The jobs report helps. “The good jobs report mainly made people think that the economy is still going strong and demand will be rebalancing the market faster than expected,” Michael Lynch, president of Strategic Energy & Economic Research, said Friday, adding that “gasoline demand may be seasonal, but there’s still four weeks for people to get in their SUVs and drive.” Whatever.

The dollar had its best day since January and rose for the first week in four.

Dollar

Gold fell to its lowest in a week after NFP (there was a fun mini-flash-crash in there for good measure):

Gold

The dollar rally helped put the brakes on the euro’s relentless ascent. The common currency had one of its worst days of 2017 against the greenback:

EUR1

On the week, the euro of course fared better than the pound and the aussie, with the BoE and the RBA both slashing growth forecasts, and the latter flagging FX strength as an impediment to the outlook:

FX

It’s worth noting that the Kospi (which has hit record high after record high this year despite North Korea) has had a rough couple of days, with the most recent dive coming this week after President Moon Jae-in said he plans to raise taxes on big corporations as part of efforts to address inequality.

Kospi

Finally, about that whole Russia thing…

 

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