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Newsfeed: Gold & Bonds Soar After Weak Jobs, Manufacturing Data; Rate-Cut Odds Soar

By Tyler Durden via ZeroHedge

Bonds and Bullion are soaring after the ugly JOLTS and weak manufacturing data this morning.

Spot Gold soared back above $2020. The precious metal has only ever been higher than this on seven days in history…

Source: Bloomberg

Treasury yields are plunging…

With 2Y back well below 4.00%…

As rate-hike expectations plummet across the curve with a 25bps hike in May now less than 50% (and year-end rates expected to be 65bps below current levels)…

Around 15-20bps has been cut off of the STIRs curve…

The dollar plunged to its lowest in 2 months…

Stocks are mixed with Nasdaq rebounding but Small Caps (finance heavy) tumbling…

Regional Bank stocks are extending losses…

Will Powell shift his tone?

 


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