Dollar, Stocks, Bond Yields Tumble After Dismal Jobs Print

The market's kneejerk reaction to the collapse in employment growth was weakness in stocks and the dollar and a bid for bonds...

Bad news is not good news today for stocks...

Treasury yields are sliding...10Y -5bps...

2Y Yields plunged below 1.80% - the lowest since Dec 2017...

And the dollar is dumping further (back below the 1200 level for Bloomberg's index)...

So yesterday markets cheered Powell's hints at rate-cuts if the economy weakened, and today we get confirmation that the economy is weakening and the market is upset...

The odds of a rate-cut at the June FOMC is now 33%!!