Payrolls Reaction: Crude Lower As Bonds & Stocks Rally

While headline exuberance over the payrolls print sparked a kneejerk higher in stocks, the record drop in earnings and the further drop in the labor force are leading bond yields and crude oil lower. Gold is modestly hgher and the USDollar is rallying.

 

Bonds and stocks have a different message...

 

Though the curve steepened notably...

 

As crude drops...

 

and gold whipsawed...

 

Someone/something was ready to ramp no matter what...

 

 

Stocks starting to fade a little as Charlie Evans was unable to save the world completely...

 

Charts: Bloomberg