What A Week It Was
Friday’s US job numbers offered a taste of “not too hot and not to cold” Goldilocks US economy showing stronger than expected job growth and some welcome cooling from January’s frightening wage growth. Nasdaq breached a new record, the dollar did not do much and -surprisingly- Gold did not tank while bonds were a little weaker.
D. Trump punctuated the day with some ashtag economics, tweeting “jobs jobs jobs” after the closing bell and sending a declaration to Australia who will be exempted fom tariffs on steel and aluminium. His planned meeting with North Korea’s Kim announced early on Friday (a divine surprise that will likely embolden him to expect the Nobel peace prize) and a voting Fed member “warning” Trump on Wednesday that protectionism might mean less rate hikes, had earlier layed the foundation for an explosive short covering rally into a good job number.
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