Gold & Bonds Dump, Dollar Jumps As Payrolls Spark Plunge In Rate-Cut Hopes
The massive beat for payrolls, and resurgence in average hourly earnings, prompted a sharp response from markets with the dollar spiking, along with bond yields, as gold and the yield curve tumbled, as rate-cut expectations plunged...
A March cut is now priced at around 25% and 2024 cut expectations have dropped to 125bps...
Source: Bloomberg
The dollar spiked back to unchanged on the week...
Source: Bloomberg
Treasury yields soared, led by the short-end...
Source: Bloomberg
Gold dumped...
Source: Bloomberg
And finally, all the US major equity markets are tumbling, led by Small Caps, back into the red from before the FOMC...
Now we all wait to see what Powell says on 60 Minutes...
More By This Author:
World's Largest Uranium Producer Warns Of Production WoesGM Shifting From EVs To Plug-In Hybrids, Following Industry Trends
Apple Slides On Plunging China Sales, Service Revenue Miss, Disappointing Guidance
Disclosure: Copyright ©2009-2024 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies every ...
more
Comments
