It's a three-day market holiday weekend...and that's a good thing, too, considering that the BLSBS came in at expectations and, as such, the Comex metals would likely be down today.
But we don't have to worry about that until Sunday evening or Monday. For today, though, if you want to read about the BLSBS, here's the ZH summary: https://www.zerohedge.com/markets/march-payrolls-lowest-27-months-line-e...
Since the US .gov is open today, the US bond market is trading. As you can see, all of those new "jobs" have sent rates higher and rate hike odds have moved higher, too.
If I had to guess, I'd say that CDG would be down about $20 on this news and CDS would be down 40-50¢. We'll now wait to see where things reopen Sunday evening and then how things trade from there. Remember, there's no London session on Monday so this leaves the paper trade in full control.
With that behind us, let's enjoy the holiday weekend. Here's a full hour of Jackass to help you pass the time if driving or doing yard work. For this discussion, I mainly direct Jim toward three questions:
- What will happen next in the banking sector?
- Is the pace of dedollarization increasing?
- How will CBDCs change things?
And as you might imagine, Jim adds all sorts of interesting nuggets in between.
Many thanks to Jim for his longtime friendship and willingness to join us for these holiday weekend podcasts during the year. If you'd like to learn more about Jim and the services he provides, be sure to visit his website: https://www.golden-jackass.com
Have a great weekend!
TF
