'Massive Short Squeeze': Yields, Rate-Hike Odds Plummet After Piss-Poor Payrolls Print

'Massive Short Squeeze': Yields, Rate-Hike Odds Plummet After Piss-Poor Payrolls Print With nonfarm payrolls printing below even the weakest analyst's forecast, the market's reaction has been uniformly dovish with rate-hike odds plummeting, treasury yields tumbling, stocks soaring, dollar down and gold and crypto higher. The biggest impact of the piss-poor payrolls print was the market basically pricing out a hike in October... With less than one total hike (22.5bps) now priced in for 2026 (and only 2 more hikes in 2027)... Yields are all down, led by the short-end... Which makes sense given that heading into the print (as we previewed perfectly), Goldman's Brian Garrett says the bank's CTA model shows managers...

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