Oh no, oh no… U.S. jobs numbers blew past expectations! Odds of a December rate hike are surging
U.S. October employment data released tonight:
Nonfarm payrolls: 165,000, versus 65,000 expected—beating expectations by 100,000!
Unemployment rate: 4.1%, below the 4.2% forecast.
The data sends a clear signal: The U.S. labor market is more resilient than the market thought.
Expectations for a Fed rate hike in December may rise further.
If Treasury yields and the dollar continue to strengthen, AI tech stock valuations will come under pressure.
BTC, ETH, and highly leveraged crypto assets may be hit by expectations of tighter liquidity.
In the short term, don’t rush to buy the dip in AI tech or blindly bet against crypto. First, watch Treasury yields, the dollar, and how markets reprice the odds of a December rate hike.
Tonight’s real test is whether the market can digest this stronger-than-expected jobs report.
U.S. October employment data released tonight:
Nonfarm payrolls: 165,000, versus 65,000 expected—beating expectations by 100,000!
Unemployment rate: 4.1%, below the 4.2% forecast.
The data sends a clear signal: The U.S. labor market is more resilient than the market thought.
Expectations for a Fed rate hike in December may rise further.
If Treasury yields and the dollar continue to strengthen, AI tech stock valuations will come under pressure.
BTC, ETH, and highly leveraged crypto assets may be hit by expectations of tighter liquidity.
In the short term, don’t rush to buy the dip in AI tech or blindly bet against crypto. First, watch Treasury yields, the dollar, and how markets reprice the odds of a December rate hike.
Tonight’s real test is whether the market can digest this stronger-than-expected jobs report.