The bond complex took it on the chin as equities screamed higher into broad short-term overbought territory. Inspired by the Jobs report, the S&P 500 (SPY) finished a full +2.1% higher, while Twenty-Year U.S. Treasuries (TLT) were conversely taken down by roughly -1.0%. The small-cap focused Russell 2000 (IWM) performed even better, putting in a +4.1% gain. While conditions have been becoming progressively more bullish for equities, these types of near-term disparities often result in an inter-market reversion.
[Week 6 Calendars: Economic | Reporting]
Source: Mrkt_Commentary subscription service; prior weekly posts.
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