Massive US jobs report strength confounds market

Link to slide deck: https://bit.ly/3wWC86b   - Today we break down the massive January jobs report surprise out of the US on Friday as the positive surprise was a multi-sigma event that shocked US yields and the US dollar back higher. The timing added to the reaction function after USD bears were already wrong-footed by a dovish ECB and Bank of England the prior day. We also look at the confusing mix of data that is keeping the signal-to-noise ratio on the direction of the economy very low. In equities, we look at what now be an entrenched secular decline in cloud computing growth, the earnings season for the week ahead and more. Today's pod features Peter Garnry on equities, with John J. Hardy hosting and on FX. Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here. Click here to open an account with Saxo   - Intro and outro music by AShamaluevMusic