Nasdaq Explodes Higher, Gold Gains, Dollar & Bond Yields Crash After Dismal Jobs Data

Nasdaq Explodes Higher, Gold Gains, Dollar & Bond Yields Crash After Dismal Jobs Data

Well that escalated quickly. The dismally disappointing payrolls data has sparked chaos across capital markets as investors consider ‘tapering the taper’ talk.

Market-implied Fed Rate expectations collapsed with the odds of a rate-hike before Dec 2022 now less than 50%…

The equity market is very mixed as the rotation back to ‘growth’ explodes with Nasdaq soaring and Small Caps plunging

Treasury yields have crashed to two-month lows…

The dollar is puking back to its weakest since February…

Which is sending gold higher, back above $1840 at two-month highs…

But as a reminder, BofA notes that US payrolls release has been a highly risk-on even over the last 12 months…

Get back to work Mr.Powell.

Tyler Durden
Fri, 05/07/2021 – 08:43

Share DeepPol