Post-Jobs Report Momentum Fades, Dollar Corrects Lower
Call it the “calm after the storm”: Equity futures are set to open at more supportive levels, yields are slipping after a post-Friday surge, and the dollar is in retreat against most of its major rivals. Reaction to Friday’s blowout jobs report is starting to fade, but the Fed’s jawboning efforts began in earnest yesterday when Atlanta’s Raphael Bostic told Bloomberg that he could see central bankers delivering another three quarter-point hikes in the months ahead if the economy remained strong. Chair Jerome Powell could follow this up by calling 2023 rate cuts unlikely when he speaks at the Economic...