In spite of the noise in global markets, it’s August – does anyone care? Investors celebrated the weaker-than-expected U.S. jobs report on Friday, rounding out a week in which both global stocks and bonds rallied. The U.S. jobs report pushed markets to price a higher probability that the Fed will hold rates steady in September and begin cutting later in the year, so stocks – especially more interest-rate sensitive stocks like small caps (e.g. the Russell 2000 index) – ra

Tech shares came under pressure this week, with the sell-off gaining steam on Friday following a much stronger-than-expected US payrolls report. Yields moved higher across the curve, oil was higher, and Bitcoin faltered. Much of this was driven by higher inflation expectations and a lower likelihood that the Fed will cut rates in the foreseeable future.

I started penning this update with my recurring rant about the antics of the Trump Administration. The daily “war is over” rhetoric coming from the leader of the free world is super-annoying, especially since Iran and the U.S. remain more or less deadlocked, with the Strait of Hormuz closed and no oil flowing through it. But does this really matter anymore, at least to investors? Yes, higher oil prices are hurting consumers (see “Consumer confidence” below) and will rev

Stocks reached more record highs in the US, but Asian and European stocks outperformed. UST yields slightly lower. Bitcoin soars to record

Risk remains asymmetrical to the downside, but a robust US jobs report cheered risk investors on Friday and sent UST yields sharply higher.

US Labor Day holiday marked the unofficial end of summer, and also a demarcation for risk sentiment. Bonds rallied and stocks got hammered.

Stocks and bonds were better on the week in spite of a strong May jobs report released Friday morning. Gold and oil weaker, USD stronger.

Earnings and economic data were all relatively to the liking of equity and bond investors alike, providing a boost for assets last week.

This article is about jobs, more specifically, what is the key data? And what does the most recent data suggest about the future?