The Fed is caught in a dilemma, and US bonds experience a relief rebound🗣️

While the NFP number was contentious enough to keep the 'data-dependent' Fed in limbo (YE hiking odds remain <20% on Friday's close), and treasuries finally saw a relief rally with 10y yields lower by -11bp on the session, it wasn't enough to rescue a challenging week for markets, with treasuries seeingly the highly weekly move since Feb, the SPX having the worst week since March, and commodities seeing the worst since June despite a 10%+ rally in oil.

#Fed #bond #NFP #Oil #SPX