Gold, Stocks, & Bonds Jump As 'Bad' Jobs News Reignites Rate-Cut Hopes

The sudden surge in initial jobless claims this morning was met with a significant across-the-market reaction (amid low levels of liquidity - Goldman noted yesterday was the quietest market day this year).

Rate-cut hopes jumped...

Which sent bond yields lower...

...and stocks higher...

The dollar dropped...

...sending gold higher...

This level of 'data dependence' in an illiquid market will not end well.