We had a soft job report which both the Fed and market wants to see. US added 150,000 jobs, below the 170,000 estimate. Unemployment rate rose slightly to 3.9%, higher than expectations of 3.8%.
The robust labour market has been Fed’s headache. So now with a softer report, the market could cheer.
Add on to this, bond yields continue to fall
We could end the week as one of the best weeks for this year.