Stocks & Bonds Puked After ‘Good News’ Jobs Data
Release the hawks… good news is bad news once again.
All that hope for an imminent recession and the consequent easing and QE is dashed by a better than expected payrolls print and stocks and bonds are being pummeled for it…
Treasury yields are soaring across the curve with the short-end underperforming… (10Y Yields are back above 3.00%)
And what ultimately matters – Fed rate expectations are spiking…
Today’s print gives Powell and his pals all the room they need to hike 75bps in July.
