More matter with less art

Jobs (and dollar) report: A non-event made into an event by yesterday’s casino bets

This is the chart at the centre of it all:
In short, the last 24 hours have seen a market betting on a stronger-than-expected, so when it came in roughly-as-expected the big reset button is pressed. Aside from the previous report revisions (downwards, and slightly ugly) there’s really not that much in this report. Gold back to the $1,390/oz region too, which makes sense.
Move along now…

PS: Today yet again underscores and reminds your author just how much smarter and better Calculated Risk is compared to the rest of the chattersphere. 

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