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PPT Drops China Trade Headline To Rescue Stocks After Dismal Jobs Data

Courtesy of ZeroHedge. View original post here.

Update (0850ET): Having lost control of the bond market and noticed that 'bad news is no longer good news' in stocks after the dismal jobs data, it appears 'someone' thinks now is the opportune moment to drop a China trade headline:

  • *U.S. GIVES SOME CHINA PRODUCTS MORE TIME TO AVOID TARIFF HIKE

  • *U.S.: TARIFFS WON'T GO UP UNTIL JUNE 15 FOR SOME CHINA GOODS

And stocks soar…

Bonds and Stocks are massively divergent…

*  *  *

Well that was disappointing - the dollar and bonds are shifting 'dovishly' but stocks are falling as the 'growth' bet evaporates.

Futures are giving up overnight gains…

Treasury yields are tumbling…10Y below 2.05%

And 2Y below 1.80%

And the dollar is in freefall…

Eurodollar markets also shifted 5bps more dovish instantly…

The probability of a June rate-cut is now at 37% and 100% by year-end…


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