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Bonds & Bitcoin Bid (But Not Stocks) As 'Bad' News Jolts Rate-Cut Hopes Back To Life
Weak labor market data (JOLTS big miss) and mixed Orders (Manufacturing beat, Durables miss) sent 'hard' data' to its weakest since the start of the year.. chart ...and that 'bad' news was enough to spark another dovish leg higher in rate-cut expectations... chart BUT... and its a big but, stocks didn't love the 'bad news'. Small Caps were particularly ugly but an afternoon srge lifted the majors green but they could not hold all the gains... chart As David Rosenberg noted on X: "The fact that equities are not responding well to the renewed pullback in Treasury yields and the swaps market beginning to price ... (full story)
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- Posted: Jun 5, 2024 2:12am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,697
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