The recent US labour report reasserts the idea of US economic exceptionalism, sending doves back to their nests and changing the market's sentiment significantly.
The solid jobs report with 254k jobs added and a drop in unemployment to 4.1% has revived confidence, resulting in a positive reaction in equity markets.
The FOMC seems either unwilling or unable to provide clear forward guidance, making the market sensitive to economic releases, creating a 'flying blind' scenario.
Market participants are no longer contemplating policy implications of data; instead, they’re zeroing in on macroeconomic indicators that suggest ongoing economic strength.
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