pebblewriter

Tag: NFP

  • NFP Soars

    Nonfarm payrolls soared by 353,000, more than twice the 175,000 expected. Average hourly wages also beat at +0.6% (+4.5% YoY) versus +0.3% expected. Unemployment remained at 3.7%. Forget about a March rate cut. Bulls will be lucky to get one in May.

    The overnight ramp job has completely disappeared, with futures struggling to remain positive.  AAPL‘s meltdown hasn’t helped.

    Factory orders and Michigan consumer sentiment are due out at 10ET.

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  • VIX: “Don’t Worry About It”

    Despite a much hotter than expected NFP print, VIX’s convenient collapse… …has once again convinced investors algos that there’s nothing to worry about. The 20-pt drop in futures following the print was erased within minutes.

    It’s all in keeping with our year-end forecast, which remains unchanged.

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