The USD is lower. Yields are lower with the 2-year down -28 basis points. The 10 year yield is down -18 basis points. Stocks are moving lower from already depressed levels after the weaker US jobs report. S&P index is down -101 points. Dow Industrial Average was -575 points. NASDAQ index -476 point. The market is now pricing in -108 basis points of cuts by year end. That is down over -20 basis points. There is a 73% chance of 50 bps cut in September now. Job losses beget job losses. The Fed is now behind the curve. The bond market is doing the work for the Fed as it is late. In the Forex:EURUSD: The EURUSD moved sharply higher off the report, and tested a key swing area near 1.0872. IN t
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