NFP Recap: All Systems Go For A December Fed Hike, Despite Slight Miss

Market Reaction

In the grand scheme, today’s jobs report has had a relatively small impact on markets. Perhaps the largest reaction has been in the US stock market, with major indices opening in modestly positive territory on the theory that the labor market is still showing growth but that the Fed may have to tap the brakes on interest rate increases heading into 2019.

Other markets have seen comparatively small moves, with the US dollar ticking down by 10-20 pips against its rivals (with the exception of the loonie, which has gained nearly 100 pips on the back of a stellar jobs report out of Canada). The benchmark 10-year US treasury is roughly flat on the day to yield 2.89% and oil is rallying nearly 4% on news of a 1.2M bpd cut by OPEC.

1 2
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.