Stocks In Chaos As Piss-Poor-Payrolls Sends Dollar & Bond Yields Lower

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by Tyler Durden
Friday, Oct 08, 2021 - 08:45 AM

A much worse than expected print for non-farm payrolls has prompted chaos in equity algos but a clear signal from the bond and FX markets.

The dollar dived (taper if off/delayed)...

Source: Bloomberg

Bond yields tumbled (recovery is stalling)...

Source: Bloomberg

But stocks just can't decide - is crappy news good news? Tech-heavy Nasdaq is kneejerking higher (rates down) but the rest of the indices are very uncertain...

Remember though - 9 of 11 times, the S&P has ended higher today,