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Gold, Stocks, & Bonds Jump As ‘Bad’ Jobs News Reignites Rate-Cut Hopes
The sudden surge in initial jobless claims this morning was met with a significant across-the-market reaction (amid low levels of liquidity – Goldman noted yesterday was the quietest market day this year).
Rate-cut hopes jumped…
Which sent bond yields lower…
…and stocks higher…
The dollar dropped…
…sending gold higher…
This level of ‘data dependence’ in an illiquid market will not end well.
Tyler Durden
Thu, 05/09/2024 – 09:07
