UsdJpy 149.40 area looks better to me for testing the buy side on that wave. Dollar and yields slump was fund buying of bonds ahead of the upcoming .25 rate cut.
As soon as the Labor Secretary goes on Bloomberg to explain what an earth shattering awesome job situation the US has and any losses are due to prior hurricanes I stop listening. The data is wrought with inconsistencies again.
A look at the day ahead in U.S. and global markets from Mike Dolan
Somewhat counter to post-election narratives and many new year outlooks, long-dated U.S. Treasury yields continue to sink as the November payrolls report holds all the attention on Friday.
The 30-year ‘long bond’ yield fell to 6-week lows of 4.31%, flattening the 2-30 year U.S. yield curve gap to just 16 basis points – its lowest since August.
Good morning USA traders, hope your day is off to a great start!
Here are the top 4 things you need to know for today’s market.
European stocks are mixed and U
USD is a touch firmer vs. most peers in the run-up to today’s NFP print, EUR’s rally vs. the USD has paused for breath, JPY and Antipodeans are softer.
USTs are a touch lower following yesterday’s flattening of the curve. Fresh macro drivers for the US are on the light side in the run-up to today’s NFP print.
Bitcoin gradually edged higher and briefly reclaimed the USD 98,000 level after yesterday’s pullback from a record high north of USD 103,000.
I think … that jerome & gang are, despite their public hee-haa are primarily worried that inflation expectations are firmly anchored.
ps and note: the close appearance of an advertisement just under my post is just a anomaly of computer code that makes it so as I am in NO WAY peddling any product or service under my handle