The Daily Chase: Powell versus traders; OPEC+ stands pat VIDEO SIGN OUT
U.S. Federal Reserve Chair Jerome Powell and the bond traders thatâve been watching his every word are getting more food for thought this morning, with a much stronger than expected U.S. jobs report. Non-farm payrolls jumped by 379,000, compared to the estimate for 200,000. The 10-year U.S. Treasury yield spiked above 1.6 per cent in the minutes after the data was released, as bets get placed on where the worldâs largest economy is heading and how the Fed will react. Manulife Investment Management Head of Macro Strategy Frances Donald told us weâve entering a phase were âgood news is bad news for the markets.â
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