Comment / 'Licking wounds'

ID 345805931 © Arlawka Aungtun | Dreamstime.com

When the wind blows, good news need not always be bad news for markets.

That was the brave narrative promoted by one prominent news provider during the weekend.

However.

Let’s quickly recap how buoyant* the US economy is and how financial assets reacted last Friday, 10 January, in the wake of a US non-farm payrolls report that was well ahead of…

(*Non-farm payrolls up by 256,000 last month versus consensus estimates of about 160,000.) 

… expectations, pushing up benchmark Treasury yields to their highs since ...