Despite the rise in the unemployment rate - which by now become nothing more than a joke - the jobs report (at the headline level) was too good for the bulls demding moar for longer. The kneejerk reaction was a selloff in bonds, commodities, and stocks as the dollar surged amid rate hike delay hopes. As time passed stocks bounced back a little but bond yields and the dollar continue to press notably higher and crude has given up all its OPEC gains.
The entire Treasury curve surged higher...

But notably 2s30s is flattening significantly as the long-end outperforms...
The Dollar gapped higher and is holding gains...
which sent gold and commodities slumping...
And slammed crude lower - removing all the OPEC gains...
And stocks bounced back modestly from a kneejerk tumble but are fading again now...
Charts: Bloomberg





