It's a government jobs Friday in the markets that often steals the spotlight.
While the spotlight is on the jobs data, the mystery in the markets this week is the strong demand for Treasury bonds.
It is difficult to find a specific reason for this at this stage, as the 200-day moving average has been broken down again for 10-year bond yields after reaching good levels last week near 4.19%and currently we are trading near 3.90%.
It is better to pay attention to this in case something strange appears and we warn about day trades, there is an old saying that the bond market is always right.
Stocks also rose in a strong recovery yesterday, and that continues today as well as futures contracts for the S & P 500 index rose by another 0.5%, while Nasdaq index futures rose by 1% at the beginning of the European trading period.
As for the dollar, there seem to be conflicting signals even after the Fed made it clear that march is not the base case for cutting interest rates.
So today's US non-farm payrolls report will serve as the first test of the talk that the Fed is trying to promote, Will Powell's reaction succeed this week ?
