The review of the preliminary reference payrolls of the United States revealed an adjustment of 911,000 jobs for the period of one year that ends in March 2025, the largest recorded.
The news suggests that the labor market was much weaker than previously suggested by the monthly non -agricultural payroll reports of the government. These very observed reports are responsible for tens of billions of capital allocation decisions, not to mention that it plays an important factor in the monetary policy of the Federal Reserve.
If those numbers were previously available, it is very likely that the Fed had been cutting the rates for 2025. At this time, the Central Bank of the United States is overwhelmingly expected to reduce rates for the first time this year at its meeting next week. This news could put a rate cut of 50 basic points in the table instead of prognosis 25.
Crypto, Gold, Bonds is directed higher in the news? Not so much
Merchants in assets sensitive to rates such as Crypto, Gold and Bonds dated long date presented another entry in the long story of “buying the rumor, selling the news.”
In the minutes before the report, Gold Futures increased more than $ 3,700 for the first time, while Spot Gold established a new one all time above $ 3,670. However, just following the data, Gold Futures returned his morning profits, now flat per day at $ 3,679.
Bitcoin Meanwhile, he quickly withdrew from the level of $ 113,000 to $ 111,600 at the time of the publication, 1% less in the last 24 hours.
And 10 -year treasure yields, threatening to immerse themselves below 4% for the first time since February, increased to 4.07%.
