US Jobs Report Sparks Rate-Hike Expectations, Focus Turns to CPI

The US jobs report exceeded expectations, with a headline number of 162,000 compared to just 56,000 expected.

This strong data sent rate-hike expectations soaring, causing stocks, gold and crypto to take a mini dump before quickly reversing their moves.

The bond market fell, yields rose, and markets are now expecting the Fed to hike interest rates in September, with the probability rising to 59% from 49% before the data was released.