Precious Metals
“Extremely Hawkish”: Stocks, Bonds, Gold Puke After ‘Good’ Jobs Data; Rate-Hike Odds Soar
"Extremely Hawkish": Stocks, Bonds, Gold Puke After ‘Good’ Jobs Data; Rate-Hike Odds Soar
“Extremely hawkish,” says Dennis DeBusschere,…
“Extremely Hawkish”: Stocks, Bonds, Gold Puke After ‘Good’ Jobs Data; Rate-Hike Odds Soar
“Extremely hawkish,” says Dennis DeBusschere, founder of 22V Research.
‘Good’ news on the labor market (lowest unemployment rate since 1969… after 450bps of rate-hikes?!) is a disaster for the ‘soft landing’ narrative and sent rate-hike expectations soaring above pre-Powell levels…
Source: Bloomberg
Bloomberg Intelligence Chief US Interest Rate Strategist Ira Jersey says the much stronger-than-expected payrolls report may finally be the data point that convinces the market the Fed won’t be cutting this year.
“As such, we think the long-end range may once again be re-tested with the 10-year Treasury topping 3.75% again, but we think a more pronounced selloff unlikely. Meanwhile a re-test of 4.4% on the two-year note seems possible if 2023 rate cuts are priced out.”
This sent stocks tumbling…
And bond yields are soaring back to pre-Powell levels…
Gold tumbled back to $1900…
“Is Powell now wondering why he didn’t push back on the loosening in financial conditions?” asks Seema Shah, chief global strategist at Principal Asset Management.
“It’s difficult to see how wage pressures can possibly soften sufficiently when jobs growth is as strong as this and it’s even more difficult to see the Fed stop raising rates and entertain ideas of rate cuts when there is such explosive economic news coming in.”
The only thing flying high is the dollar…
Source: Bloomberg
Jeffrey Rosenberg, a senior portfolio manager at BlackRock Inc., says on Bloomberg TV: “This is a reminder of what Powell tried to say, but the market wasn’t listening.”
Tyler Durden
Fri, 02/03/2023 – 08:52
gold
Canadian Silver Co. Will See Big Changes in 2024
Source: Michael Ballanger 12/22/2023
Michael Ballanger of GGM Advisory Inc. takes a look at the current state of the market and shares on stock…
EGR options out Urban Berry project in Quebec to Harvest Gold – Richard Mills
2023.12.23
EGR Exploration Ltd. (TSXV: EGR) has moved from owner to shareholder at its Urban Berry project in Quebec, this week announcing it is optioning…
Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar
Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar
A weird week of macro data – strong jobless claims but…