If Powell telling you that 75 bps on the table isn’t enough to dissuade you from selling bonds, then a 0.1 dip in monthly average hourly earnings versus consensus is unlikely to change anyone’s mind.
US 2-year yields fell to 2.70% from 2.74% on the non-farm payrolls headlines but they’re already back to pre-NFP levels.
Along the same lines, US equity futures briefly traded positive but are now below pre-NFP levels and USD/JPY briefly dipped but is now above pre-NFP levels.
Let the develeraging continue.
This article was originally published by Forexlive.com. Read the original article here.