Is the strong jobs report good for traders, even if it gives the Fed more room to stay put?
Francine Lacqua
Ven Ram
Yes, good for equity traders because the economy is roaring and the Fed still wants to cut rates.
Ven Ram
But there's a message in Treasuries: 2-year yields haven't come off 3.50%, 10-year yields not coming off 4.20%.
The dollar's reaction was anemic. How should we look at tomorrow's CPI?
Francine Lacqua
Ven Ram
The dollar is moving away from the data. There's a considerable risk premium priced into the dollar, around 4%.