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The Market Reacts To "Great" Unemployment Data

Good news... the unemployment rate is the lowest since mid 2008... but it seems the "good" news has now been understood as 'meh' news since it does nothing to stall the tightening path the Fed is on. Equity markets initial kneejerk higher has been roundtripped... Treasury yields blew 4-5bps higher but have now roundtripped... The USDollar remains bid but is also rolling over and the initial drops in gold and silver are reversing higher.

 

Good news is 'meh' news... for stocks...

 

Treasury yields have roundtripped...

 

USD remains higher and gold lower...

 

Charts: Bloomberg