More Positive Jobs News

Payrolls exceeded expectations

Keeping it short today, as the official jobs report confirmed preliminary reports that hiring remains robust:

While the jobs data was better than expected, the market performed rather poorly on the day. It’s silly to attribute too much meaning to daily market gyrations but one broader implication of the strong economic performance is the potential for continued (or even increased) Fed hikes.

If the economy remains strong and inflation is not under control, the Fed will continue to raise rates. That’s something the market isn’t really a big fan of right now.