The current action in markets is extreme hysteria. Friday’s US jobs report has unhinged everything. The S&P500 went nuts, up nearly 2% on non-stop buying:
That might be make sense if we were in for an extended Fed pause (without a further hit to growth) but bond markets also went nuts, sold into the shitter on prospective Fed tightening with the two year yield up 6.3%:
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In forex the US dollar strengthened, presumably also on prospective Fed tightening: