Bonds, Bullion, & Big Tech Battered After Big Jobs Beat, Dollar & Small Caps Soar

Bonds, Bullion, & Big Tech Battered After Big Jobs Beat, Dollar & Small Caps Soar

Well that escalated quickly…

Treasuries are being sold immediately after the big payrolls beat with 10Y Yields above 1.28%…

Source: Bloomberg

Demand for cyclicals and rotation away from growth is the immediate reaction as Nasdaq tumbles and Small Caps surge…

The dollar spiked on the potentially hawkish good news…

Source: Bloomberg

And as the dollar jumped, gold was dumped, back below $1800….

And the short-term rates market surging hawkishly higher…

Source: Bloomberg

Time for Powell to manage expectations.

Tyler Durden
Fri, 08/06/2021 – 08:57

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