Stocks Surge On Dismal Jobs Data; Bonds & Dollar Dumped

Stocks Surge On Dismal Jobs Data; Bonds & Dollar Dumped

It would appear bad news is good news this morning for stocks (well Small Caps at least) as the dismal jobs print sent all the major indices (ex Nasdaq) higher…

And of course, a bad jobs print means more pressure for more urgent stimulus out of Washington which sparked a spike in yields (after a ‘normalized’ reaction lower in yield first)…

Source: Bloomberg

And a dump in the dollar…

Source: Bloomberg

As inflation breakevens jumped…

Source: Bloomberg

So the market is driven by ‘fundamentals’ or just an unquenchable thirst for more free money rolled out.

Tyler Durden
Fri, 02/05/2021 – 09:12

Share DeepPol