Soaring ADP employment data and tumbling continuing claims are not what The Fed wants to see, and Dallas Fed President Lorie Logan unleashed the hawkish hammer, refinforcing her belief that more restrictive policy is needed for FOMC to reach its goals.

Putting it all together, markets swung chaotically.

Bond yields spiked with 10Y back above 4.00%...

The 2Y Yield spiked back above 5.00% (and above the pre-SVB highs), back to its highest since June 2007...

Good news is bad news again and stocks seem to suddenly be aware that higher rates are bad for long duration assets.

...'good news' is bad news again.
{ai:summary}<p>Markets react chaotically as employment data and continuing claims contradict The Fed's desires, prompting Dallas Fed President to advocate for more restrictive policy. Stocks plummet, bond yields surge, and the yield curve collapses. Gold and oil prices decrease, while Bitcoin experiences fluctuation. The realization that higher rates negatively impact long duration assets causes stocks to decline. #economy</p>

Strong Jobs & Hawkish FedSpeak Spark Early Chaos Across Markets

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