The worst-case scenario just hit. NFP data absolutely nuked expectations tonight and the entire market is stunned.
Expected: 59-65K new jobs, 4.2% unemployment, 0.3% wage growth
Actual: MASSIVE BEAT - 165K jobs added in October, unemployment rate actually DROPPED
This is exactly what we feared pre-market. December rate hike probability was already sitting at 68% before this print.
Risk-off mode activated. Liquidity about to get squeezed harder. Watch your leverage.
Expected: 59-65K new jobs, 4.2% unemployment, 0.3% wage growth
Actual: MASSIVE BEAT - 165K jobs added in October, unemployment rate actually DROPPED
This is exactly what we feared pre-market. December rate hike probability was already sitting at 68% before this print.
Risk-off mode activated. Liquidity about to get squeezed harder. Watch your leverage.