The US preliminary benchmark wage audit revealed a downward adaptation of 911,000 jobs for a year period ending March 2025, the largest on the record.
The news suggests that the labor market was far weaker than previously proposed by the government’s monthly non -yard wage reports. These very closely monitored reports are responsible for tens of thousands of billions of capital allocation decisions, not to mention playing an important factor in the Federal Reserve Monetary Policy.
Had these numbers been available in the past, it is very likely that Fed would have trimmed the rates throughout 2025. Currently, the US Central Bank is expected overwhelming to reduce the rates for the first time this year at its meeting next week. This news could put a 50 base point rate on the table as opposed to the expected 25.
Crypto, gold, bonds lead higher on the news? Not so much
Dealers in rate -sensitive assets such as crypto, gold and long dated bonds filed another post in the long story with “Buy Rumor, Sell the News.”
In minutes before the report, gold futures rose past $ 3,700 for the first time ever, while Spot Gold set a new one all the time high over $ 3,670. But just after the data Gold Futures gave back their morning gains, now flat for the day for $ 3,679.
Bitcoin Meanwhile, quickly withdrew from the $ 113,000 level to $ 111,600 at the time of press, down 1% over the last 24 hours.
And US 10-year-old state yields that threaten to dip less than 4% for the first time since February rose to 4.07%.
