But, but, but… jobs…

Financials suffered their biggest drop in 2 months… (down 3 of the last 4 days) – on target for the worst week since the first week of the year

We suspect Financials have further to fall…

Which weighed on overall sentiment…

Leaving the S&P in the red YTD…

Since the great jobs report, Bonds and bullion lead the way…

Treasury yields plunged…

As Scotiabank’s Guy Haselmann exorts, the bottom line: I remain steadfast in my view that 10’s and 30’s will hit an all-time low yield in 2016, regardless of Fed action.

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