~*~Mining and Metals Du Jour~*~

[ConferredDiligence]

Nasdaq Explodes Higher, Gold Gains, Dollar & Bond Yields Crash After Dismal Jobs Data

April Payrolls Huge Miss: Just 266K Jobs Added On Expectations Of 1 Million
Nobody was preparing for a huge miss. And that's precisely what we got.

FRIDAY, MAY 07, 2021 - 08:43 AM
Well that escalated quickly. The dismally disappointing payrolls data has sparked chaos across capital markets as investors consider 'tapering the taper' talk.

Market-implied Fed Rate expectations collapsed with the odds of a rate-hike before Dec 2022 now less than 50%...

The equity market is very mixed as the rotation back to 'growth' explodes with Nasdaq soaring and Small Caps plunging...

Treasury yields have crashed to two-month lows...

The dollar is puking back to its weakest since February...

Which is sending gold higher, back above $1840 at two-month highs...

But as a reminder, BofA notes that US payrolls release has been a highly risk-on even over the last 12 months...

Get back to work Mr.Powell.

https://www.zerohedge.com/markets/nasdaq-explodes-higher-gold-gains-dollar-bond-yields-crash-after-dismal-jobs-data