The reality of the jobs number's apparent 'good' news (unemployment, yay!), and dismal news (part-time workers and less-than-expected jobs created) was instantly met by most markets (except stocks which appeared to have baked all that in and are losing ground) with a 'Taper-off' reaction. Bonds (10Y -12bps post-NFP) and Gold (+$28 post-NFP) are the headline-makers (along with silver) but the USD's 0.6% plunge dwarfs the 0.25% gain post-FOMC. All-in-all, post-FOMC we are net: S&P +12pys, 10Y Yield -5bps, USD +0.25%, WTI Crude +2.6%, Gold +$5.




