Job data has clearly weakened, and the market has started betting again that the Fed will not raise rates—altcoins immediately went wild.
In September, the U.S. added only 29,000 jobs, far below expectations. The unemployment rate rose to 4.2%, while average hourly earnings grew only 0.1% month over month. More importantly, the combined employment figures for July and August were revised downward by about 60,000 jobs.
The signal from this set of data is very clear: the U.S. labor market is cooling.
Weaker employment → reduced need for the Fed to keep hiking → U.S. Treasury yields fall back → market risk appetite rebounds.
After the data was released, Treasury yields fell across the board. The 2-year yield dropped by 7.7 basis points to 4.71%, while the 10-year yield fell to 5.18%.
The most direct reaction has already appeared in crypto.
$SAND +62.52%
$ENJ +27.88%
$GTC +22.10%
MANA +19.10%
SKY +18.94%
GALA +17.53%
MAGIC +15.02%
SUPER +14.96%
#比特币资金费率升至10%未平仓合约回升 #比特币站上8.6万美元涨2.99% #美国9月非农仅增2.9万人失业率升至4.2%
In September, the U.S. added only 29,000 jobs, far below expectations. The unemployment rate rose to 4.2%, while average hourly earnings grew only 0.1% month over month. More importantly, the combined employment figures for July and August were revised downward by about 60,000 jobs.
The signal from this set of data is very clear: the U.S. labor market is cooling.
Weaker employment → reduced need for the Fed to keep hiking → U.S. Treasury yields fall back → market risk appetite rebounds.
After the data was released, Treasury yields fell across the board. The 2-year yield dropped by 7.7 basis points to 4.71%, while the 10-year yield fell to 5.18%.
The most direct reaction has already appeared in crypto.
$SAND +62.52%
$ENJ +27.88%
$GTC +22.10%
MANA +19.10%
SKY +18.94%
GALA +17.53%
MAGIC +15.02%
SUPER +14.96%
#比特币资金费率升至10%未平仓合约回升 #比特币站上8.6万美元涨2.99% #美国9月非农仅增2.9万人失业率升至4.2%
