57k jobs. Worst print since the pandemic. Market ripped anyway.
Nasdaq futures +0.80%. S&P +0.46%. Gold +2.65%.
This isn't confusion. This is the playbook.
Bad econ data = rate cut fuel.
The 57k (vs 114k expected) just told the Fed the slowdown is here. No more hikes needed. Tightening already did its job.
Those 9 Fed officials who penciled in more hikes? That conversation died with one print.
Warsh said data decides everything. Data just decided.
Gold +2.65% is the signal — rate hike bets collapsing, dollar weakening, Fed flipping from hawk to neutral.
Market's not celebrating weak jobs. It's celebrating the death of the hike narrative.
September isn't a hike meeting anymore. It's a hold at best. Cut conversation at worst.
Risk-on is back.
Nasdaq futures +0.80%. S&P +0.46%. Gold +2.65%.
This isn't confusion. This is the playbook.
Bad econ data = rate cut fuel.
The 57k (vs 114k expected) just told the Fed the slowdown is here. No more hikes needed. Tightening already did its job.
Those 9 Fed officials who penciled in more hikes? That conversation died with one print.
Warsh said data decides everything. Data just decided.
Gold +2.65% is the signal — rate hike bets collapsing, dollar weakening, Fed flipping from hawk to neutral.
Market's not celebrating weak jobs. It's celebrating the death of the hike narrative.
September isn't a hike meeting anymore. It's a hold at best. Cut conversation at worst.
Risk-on is back.