Fra Zerohedge:
The massive payrolls beat sparked an utter buying panic in US equity futures, with Small Caps massively outperforming…
This move has erased all of the losses since March’s FOMC…
Small Caps have now erased all of their relative underperformance against Nasdaq from the end of March…
Bond yields are also spiking with 10Y pushing up towards 1.70% (but the move is de minimus relative to stocks)…
The dollar was also bid…
The market is now pricing in one rate hike by the end of 2022…
So, after this “good” news, how long before The Fed has to start tamping down the exuberance?
