The jobs report was the big story on Wednesday. Far better than expected, markets were mostly muted as investors worried that the 130,000 jobs added in January meant no immediate interest rate cuts.
“‘[Wednesday’s] employment report was a 10 out of 10 with positive surprises across the board,’ said Peter Graf at Amova Asset Management Americas. ‘It should quell recent concerns about growth, but puts incoming Fed Chair Warsh in the hot seat — it will be even harder to persuade the FOMC members to go along with the president’s mandate to cut rates,’” Barchart’s Oleksandr Pylypenko reported Graf’s comments.
